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To: pater tenebrarum who wrote (27950)10/13/2000 1:07:36 PM
From: LLCF  Read Replies (1) | Respond to of 436258
 
PaineWebber market commentary just came across my desk:

"IT's a Cheap Market Now"

* Still see 1715 year-end 2001 S&P normal value.
* Current pattern of earnings trends right on track.
* Long term expect to see a reversion to more normal 7-10% annual stock market returns.
* Our PE valuation gauge is now at +16% appreciation potential to normal value.

Owing to the weak euro, higher energy prices, and weaker demand in some sectors, there has been an increase in negative pre-announcements, whos significance has been exaggerated because they follow two quarters with very few. What investors are tending to overlook is that companies usually do not pre-announce positive earnings surprises and we are likey to get some big ones, especially in the energy sector.

ROFL

DAK