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

To: Math Junkie who wrote (74367)	4/6/2001 2:29:58 PM
From: Les H	Read Replies (2) \| Respond to of 99985

I wasn't making a claim of undervalued or overvalued, short or long. I was simply stating that the inputs to the metrics have been unstable. I noticed someone claim the other day that Intel's P/E was 15 and that was typically a cyclically low valuation. More changes may be in order once the Q2/Q3 outlooks are provided in the Q1 conference calls. I agree with you. I don't know where one can make the claim that the semis are the most overvalued tech group. I think there are still individual stocks in the group that are overvalued still, but still others that are 20-30% near trough values.