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

To: fedhead who wrote (34169)	11/26/1999 8:50:00 AM
From: pater tenebrarum	Respond to of 99985

Anindo, <<Has this market surpassed the Nikkei 89 in terms of the blow off move ?>> the Nasdaq clearly has. the Nikkei took three times as long for it's final move, and it didn't go as far as the NAZ already has. also the NAZ p/e is about three times the Nikkei's peak p/e. the total capitalization of the U.S. market of approximately 180% of GDP already far surpasses the Nikkei's 130% of GDP peak. of course once such lofty valuations are reached, the comparisons and numbers cease to make sense except perhaps in terms of showing that this is indeed the biggest stock market bubble of all time. what i'm trying to convey here is that the fact that we have now bested the Japanese mania of the '80's doesn't mean we can't go even further. after all, what difference does it make whether the NAZ p/e is 180, 200 or 250? all are equally meaningless numbers... regards, hb