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To: bcrafty who wrote (29967)	2/1/2002 12:23:18 AM
From: whydididothat	Read Replies (1) \| Respond to of 209892

He's saying he's joining the bullish investment advisors in next week's sentiment survey.

To: bcrafty who wrote (29967)	2/1/2002 12:37:23 AM
From: Shack	Read Replies (1) \| Respond to of 209892

I agree with him in theory but the strength of the reversal day is what he neglects to talk about. It may last one day or 5 days. On the NDX, look at Aug 22 2001, then look at Oct 18, 2001. Quite different. Volume is important and we had good volume that day although not exceptional.

To: bcrafty who wrote (29967)	2/1/2002 2:44:51 AM
From: UnBelievable	Respond to of 209892

It Doesn't Look Like They Think So In Japan Some Headlines from the start of the session there until the end (in reverse order) Fri 1:18am ^N225 Nikkei ends down 2 pct, political risk looms - Reuters Securities Fri 12:26am ^N225 Tokyo stocks extend loss, political risk looms - Reuters Securities Thu 10:41pm ^N225 Tokyo stocks tumble by midday on earnings worries - Reuters Securities Thu 9:02pm ^N225 Nikkei down two percent on bleak tech earnings - Reuters Securities Thu 7:56pm ^N225 Tokyo stocks slip, weighed down by tech earnings - Reuters Securities Thu 7:25pm ^N225 Tokyo stocks open mixed, NEC tumbles on earnings - Reuters Securities Thu 6:33pm ^N225 Tokyo stocks expected to firm in U.S. tail wind - Reuters Securities

To: bcrafty who wrote (29967)	2/1/2002 8:54:24 AM
From: john722	Read Replies (1) \| Respond to of 209892

Interesting Number Crunches I Don't know if the following is accurate (borrowed post from another thread), but it sure makes a good point about pro-forma vs. GAAP P/E's on the Naz 100: ---------------------------------------------------------- <SEC is going to have no choice, but to either get rid of proforma accounting or place some significant rules on it's use. What a scam. 75% of the NASDAQ 100 reported better profits on a pro forma basis than on a GAAP basis. The average favorable difference per company for these 75 companies was $1.6 billion. The companies that used pro forma adjustments to improve earnings had a combined $87.7 billion in GAAP losses before pro forma adjustments turned them into profits. The 25 companies that did not make favorable pro forma adjustments had a combined GAAP profit of $5.5 billion. A full year 2001 PE ratio for the NASDAQ 100 based on real earnings is meaningless as earnings for the first three quarters are a negative $82 billion and full year results are certain to be negative. However, a PE can be calculated on the pro forma numbers. We took the three quarters "actual" pro forma results ($19.1 billion profit) and added in fourth quarter estimates from First Call to come up with projected full year 2001 pro forma earnings of $25.2 billion for the NASDAQ 100. Based on the one hundred companies' combined market capitalization on January 5, 2002, this yielded a pro forma PE ratio of 75 time earnings. On that date, the companies that had lost a combined $82 billion (on a GAAP basis) had a total market capitalization of $1.9 trillion. Even based on questionable pro forma earnings, the NASDAQ 100's PE ratio is lofty>. -----------------------------------------------------------