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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (3804)	7/29/2000 3:40:22 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 30051

I am surprised that such a detailed analysis says nothing about general market expectations and the possible compression of future valuations in the sector. After all, we had six tightening, and these are supposed to have an impact on consumers and their confidence. Maybe PG will recover (eventually, I think it will), but will it be selling at a premium to book or will it end up, like XRX, in a perenial bear market? I know not. The chart indicates to me that long termers may have to be quite patient, and as I said before, in a bear market, PG at $25 will not surprise me at all. I do "see" a major bear market next year. Zeev