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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (1947)	1/11/2000 12:02:00 PM
From: fut_trade	Read Replies (1) \| Respond to of 42523

Since the January round of "profit-taking", the NDX, GE and YHOO have yet to make new highs. Until they do, I will keep a neutral bias for now. I think the current state of extreme-bullishness will erode gradually on any prolonged failure to make new highs. YHOO reports EPS tonight. How they've sustained such a high P/E all this time is truly amazing. Although they have rapidly growing revenues, expenses are growing at a comparable pace. AOL just gave up any hope of EPS growth over the next few years. I suspect YHOO will beat estimates by a large margin tonight, which isn't asking too much, but I see little hope of bringing down the P/E to less than 150 over the next few years given the current market cap. At some point the buyonthedip-ters will exhaust their credit.