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To: schrodingers_cat who wrote (129901)8/10/2001 4:19:40 AM
From: GST  Respond to of 164684
 
Cat -- for that to happen, earnings would have to be rising -- a neat trick for companies where earnings are go down along with a worsening economy. PE's are rising as stock prices stay the same. Every day the PEs are rising and estimates for earnings are still way high. Sideways will not moderate PE's -- it will send them sky high.