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To: SliderOnTheBlack who wrote (89235)	3/26/2001 10:12:49 AM
From: ItsAllCyclical	Read Replies (1) \| Respond to of 95453

S&P 500 targets finally starting to get taken down biz.yahoo.com ``Not too many weeks ago, we thought the 1,100 level on the S&P 500 would be an attractive entry point for investors to add exposure to the U.S. equity market,'' Cliggott wrote in a note to clients. ``Standard & Poor's has released its final 2000 figures for reported net income per share. The number is $50.86. We had been assuming a figure of $53.50. That change in the 2000 earnings base pushes our year-end 2001 'fair value' target down 100 index points, to 1300,'' he said. ``So quite simply, 1,100 doesn't represent as big a cushion to fair value as we thought,'' Cliggott said. -------------------------------------------------- I don't know if anyone is following this, but the analysts have been incredible bullish on the S&P 500 and Dow all throughout this decline. Now that earnings are getting cut on the traditional non-tech stocks they're belatedly getting around to cutting targets. I still see 1-2 more quarters (at least) of decreasing or flat earnings for non-tech and tech alike. As such year-end targets for the S&P 500 and the Dow will continue to come down. I have yet to see a Dow target under 11400 for year end. This is the first S&P 500 target I've seen under 1500. Once most of the targets get taken under 1400 and the Dow targets get taken under 10500 or less then we'll be closer to a tradable bottom. Not that I think we'll finish near those areas, but they're at least closer to reality than the 30% jump most are predicting. Dow 8000 or less sometime in the next couple months seems practically guaranteed imho.