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

To: Matthew L. Jones who wrote (25275)	9/8/1999 5:00:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

While I fundamentaly agree with you, the PE chart is not an accurate display as it treats a PE ratio range which is fairly flat with a compounding return onthe S&P. If that chart could be made semi log, it would give a more accurate picture. I still think it would be alarming but not to the degree it appears on that chart. Futures were run up after the close so the bias tomorrow morning will be to the buy side. I won't have the numbers until later so I am unsure as to the degree. I show they were around 1345 at 4:00 and are now in the viscinity of 1347. I found it amazing that the TICK shot up over 500 on the closing rally attempt yet the OEX and NASDAQ barely responded. Not exactly a bullish sign. Also note that the credit report of 8.8 was waaay over the expected number of 5.5. Must be why I received the offer to refinance 150% of my house this time instead of the usual 125%. Will Americans have any credit left to spend for X-mas this year???? Good Luck, Lee