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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: William H Huebl who wrote (43554)	9/23/1999 9:52:00 PM
From: Gary105	Read Replies (1) \| Respond to of 94695

i think your target is reasonable from a fundamental level - it would still put S&P p/e around 19. bear in mind that bear markets generally do not end until p/e signals compelling buy (ie lower target possible). i have yet to see one bullish analyst justify high p/e on fundamental basis. technically s&P has fallen through support, dow is at support level, nasdaq still above support level. tomorrow and the next few weeks will be very interesting. the yardeni forecast on interest rates is pretty interesting - the fed aggressively lowers rates later this year as a result of significant market decline. all imo, gary