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Pastimes : Alan Greenspan MUST GO: -- Ignore unavailable to you. Want to Upgrade?

To: BWAC who wrote (266)	2/15/2001 4:11:08 PM
From: wdlngduc	Read Replies (1) \| Respond to of 494

The American Association of Individual Investors (AAII) reported the 61% bullish figure. An extraordinary figure when viewed against the backdrop of the collapse we saw at the end of last year! Logic would suggest that most people would be anything but bullish, especially those in tech stocks and the Internets. But 'buy the dip" mentality has been inculcated into the investing populace. Want more proof of a market incapable of sustaining a solid rally for longer than a couple of days? The NASDAQ 100 Index now sports a collective PE of 811! That's a result of a shortfall in earnings so far reported this year. Last quarter it was still an excessive 165X. If you wish to read the evidence to verify my statement, give me your email address and I'll send it to you. You sound firmly grounded in fundamentals, and a value investor. I am, too, but I do short stocks from time to time. Shorting makes a trader more sensitive to incremental movements, a close to-the-market sharpness that keeps one entirely objective. Try it, even in small doses; it hones the senses.