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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: slacker711 who wrote (35132)	11/21/2000 11:01:25 AM
From: limtex	Read Replies (2) \| Respond to of 54805

slacker - my point in all this is that the corporate bond market looks like it is just as big a mess as it was in late 98 and this time no nice Mr G to help it all out with lower rates. So we get a continuation of the almost daily reduction in the NAZ which has been going on more or less continuously since the end of August ie nearly three months of continuous slide. The P/Es of some of the more high profile names CIEN, JDSU, SDLI, CSCO etc are still quite high. My guess is that we can see P/Es even for growth companies head down to the 20s and 30s. As the recession begins to bite people will just not be interested in listening to anything in the future so that no matter how good the earnings the stock price will move independtly until there is no linkage at all between the two. Even G&K stocks have P/Es over 30 or so. Best regards, L