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To: Tommaso who wrote (150584)	2/11/2002 10:55:19 AM
From: Terry Whitman	Read Replies (5) \| Respond to of 436258

>The P/Es are still as high as the peaks of any other bull markets< That P/E will throw you off. Sure they're high- companies have no earnings from the past year. LT they will likely come down- but that can happen in 3 different ways- Price can go down, earnings can go up, or a combination. Unfortunately there are no laws that require P/Es to come down at a specific time. In fact, there 's no law that requires them to come down at all. They may come down only slightly as earnings increase. If prices go up- they may not come down at all until the next big bad bear market hits. If the big bad bear is actually not over- then P/Es could even come down in a big hurry as earnings stay constant. That's what the bears hope for. Hasn't happened. Could it? Sure- but my read says the odds are it's not gonna happen this cycle. Who knows really? Now hit this glue bong, book some of those gold miner gains, and buy ya some SUNW. hoho TW