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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (23143)	8/16/1999 6:02:00 PM
From: Benkea	Read Replies (1) \| Respond to of 99985

heinz: "Benkea, because it does not yet 'feel' like a true blow-off...i am waiting for guys like Prechter admitting their wave counts to be wrong and projecting much higher prices after all, i am waiting for a p/e of 100 on the S&P, i am waiting for JNPR to reach a market cap of $30bn. etc., and all on record volume if you please. only when the shorts are finally irrevocably and utterly destroyed will the mania end." Sure, isn't everyone! That is why it won't get that far. Everyone has already shot their wads. The trend of money flow INTO the U.S. has reversed. In our overleveraged economy wherein people have 125% second mortgages (many tied to the prime), and dozens of credit cards (many tied to the prime), it doesn't take much of a rise to upset the leveraged apple cart. I personally think this bulls days are more numbered than a P/E of 100 on the S&P. Including options, one-time charges, etc, we are WELL on our way to just such a P/E.