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

To: Mannie who wrote (80401)	7/18/2001 2:22:51 PM
From: James Strauss	Respond to of 99985

I wonder just how much spring this market could have in it. Valuations are still quite high, historically. Earnings have dropped nearly as quickly as share prices. We have yet to see an undervalued market as a result of this bear....looks like quite a bit more is yet to come. Good points Scott... At the end of Bear markets we can see two extremes... Very low P/E's or very high P/E's... The high P/E scenario comes because earnings are very poor... But as the market turns, and you get very easy Qtrly comparisons, those P/E's can shrink very fast... That's what we may see in the 4th Qtr... Jim