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To: Tradelite who wrote (124062)	9/19/2001 9:54:13 PM
From: sun-tzu	Read Replies (1) \| Respond to of 436258

Was "big money" for a 3000 point Dow decline and 3500 point Nasdaq decline? That thought process is merely part of the illusion created by a 20 year bull market capped by the largest bubble in history. Mean growth line of the Dow is in the 4700-5000 range. If you don't think it will get that low your only other recourse is sideways action for the next 10 years. I'd prefer to get this over with as quickly as possible. <Automakers and airlines have very nice low PE's> The airlines have no "E". The autos need to be ratcheted lower. Much lower. (~)^(~)

To: Tradelite who wrote (124062)	9/19/2001 10:09:24 PM
From: Mark Marcellus	Read Replies (3) \| Respond to of 436258

Automakers and airlines have very nice low PE's. Cyclicals usually have very low PE's coming off the top of the cycle. Absent some other compelling factor, you should stay away from low PE cyclicals.