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

To: Fun-da-Mental#1 who wrote (24986)	9/6/1999 5:45:00 PM
From: Benkea	Respond to of 99985

Fun: "(a) that we haven't yet reached the excesses of 1929 or 1989" Well, I guess that is a matter of opinion too. Take the 125% home equity lines on the highest home ownership in US history and couple that with easy balance transfer credit cards, margin stock buying, 50% of all cars being rented (leased), and heavy 401k borrowing, and I think an argument can be made there are striking similarities. We won't even get into IPOs of nut companies running to $1, $5, and $10 bil on REVENUES of less than $15 mil and even higher negative earnings. "We haven't reached the P/E of the 1989 Nikkei (peak 60 I think)" On a net earnings (after charges) and after options, we are easily at 60. In other words, including accounting gimmicry, we are there. It would take one hell of an oracle to put forth an argument that we are NOT smake in the middle of historical speculation.