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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (44915)	12/7/2001 4:33:48 PM
From: Sully-	Respond to of 65232

..........."valuations remain extremely high"........... That is my main concern right now Scott. I don't see any reason for higher stock prices near term. If they do continue to melt upward, it will only increase P/E's to even more absurd levels. Heck forward P/E's for most companies are at nose bleed levels right now. We would need the economy to immediately begin to grow at a near record levels just to bring forward P/E's toward overvalued levels. Like RR, I remain bullish on the US markets long term. I just can't see any reason for the market continuing to melt upward near term.