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

To: Les H who wrote (68919)	2/10/2001 9:18:42 PM
From: Doug	Read Replies (1) \| Respond to of 99985

L.H: In 1999, S&P (techs) had a P/E of 19. Q1/2001 earnings may be the low point and result in a climax selling to bring the valuations in line. In a recesion /soft landing, the Market leaders are entitled to a P/E of 1.5* the average of the S&P. As earnings visibility improves this can go to 2 . This market is going to be a boom time for tech traders. Investors & swing traders will be caught in the gaps that will occur to trap them.