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

To: SOROS who wrote (79680)	7/7/2001 9:35:58 PM
From: t2	Read Replies (2) \| Respond to of 99985

Much of your data on PEs does not make sense. Your numbers probably include non operating items. Most people take the PEs based upon operating EPS only. Just got that from a quick glance. For example, I think CIEN has a high PE but not that high.

To: SOROS who wrote (79680)	7/8/2001 1:03:11 AM
From: American Spirit	Read Replies (2) \| Respond to of 99985

You're assuming no recovery. Remember any recovery could come suddenly (as suddenly as it fell) and these high PE's could be erased just as quickly. It is likely we will have a sharp pickup in computer sales by the 4th quarter. This could propel everything else. Very short term we might continue scraping bottoms but within 5 months we could have a very different story. Look at market caps vs cash/earnings/value along with PE's. PE's are all out of whack now. If you want to short here be my guest but don't be surprised if it doesn't work.