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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: westpacific who wrote (21885)	7/27/2001 4:43:39 PM
From: TREND1	Read Replies (3) \| Respond to of 30051

west "Some rally - IBM, CSCO, MSFT, ORCL, INTC all red!" These are past history stocks. The next bull market will not include "past history" stocks. Never does. Market 101 says each bull market has a new group. If you were old enough, even much older then me, you would be talking about railroads when the next run was autos. Wake UP ! Find the new ones ! Larry Dudash

To: westpacific who wrote (21885)	7/27/2001 6:40:35 PM
From: The Freep	Read Replies (1) \| Respond to of 30051

<< Bogus pumping of SOX all day>> I gotta ask. How was it bogus? Just cuz Intel didn't play along? (It tried to, but was pushed back down. Intel and 30 seem to be doing a tango). Seriously, though, what defined this as "bogus" rather than as "buying"? (Mind you, I'm not saying I understand why anyone would buy those Soxx fellows. . . but I don't know why it was bogus pumping either, and I'd love to learn). Also, not to pick on you, I'm still curious where you got the PE of the S+P 500 to be 31.5? Do you have a link that backs that up? Here's a link (it's a PDF document, so be warned) that gives the PE as a little over 22 as of July 26th close. yardeni.com That's a huge difference from your figure, even though it, too, would argue that the S+P is overvalued, particularly if earnings come down any more. Enjoy your weekend, y'all. the freep