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

To: Mike Harkness who wrote (47756)	4/23/2000 11:56:00 AM
From: Jack T. Pearson	Read Replies (1) \| Respond to of 99985

PEs are only one the factors some people consider when deciding at what price they will buy or sell a stock. There are lots of other factors. A few are interest rates, inflation rate, prices of other stocks, company fundamentals, growth of competitors, industry group fundamentals, earnings, earnings growth, sales, market share, sales growth, stock price momentum, industry momentum, the season, stock market momentum, marketing initiatives, broker recommendations, demographics, number of shares outstanding, number of shares available to be traded, etc. Anything that effects supply of a stock or demand for a stock effects its price.

To: Mike Harkness who wrote (47756)	4/23/2000 12:29:00 PM
From: edward miller	Respond to of 99985

This year is different! "IMO overvaluation can go on for years before stocks get back to historical norms." I detect a significant, yet subtle shift in what I read posted from mainstream publications, or in the WSJ, etc. Are investors listening? I am sure some are. Sometimes we need to sift carefully through the noise and get to the heart the issue. There will always be writers with differing opinions, and of course some with agendas. There have been non-mainstreamers cautious about PEs for years, and I have read their posts here at SI. Now I do sense that the mainstream publications are paying attention to the overvaluation issue. Sure, there will always be competing opinions, but I believe that the perception trend is changing this year. That is a fundamental difference. People who are not listening are just whistling past the graveyard. I think that Zeev has a excellent outline for what the future holds in the markets. I see changes in portfolio strategies coming, lots of losers and winners (as usual) but big shocks for those who don't pay attention to the shifting environment.