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Strategies & Market Trends : Moufassa's Lair -- Ignore unavailable to you. Want to Upgrade?

To: ALTERN8 who wrote (5007)	2/15/2002 10:55:52 AM
From: KevinThompson	Read Replies (1) \| Respond to of 13660

Was thinking the same thing - divergence. Noticed though that $VIX.X and $VXN.X (volatility) appear to be tracking in movement and direction. Interesting.

To: ALTERN8 who wrote (5007)	2/15/2002 10:59:09 AM
From: moufassa7	Read Replies (1) \| Respond to of 13660

Careful what you ask for ALTERN

To: ALTERN8 who wrote (5007)	2/15/2002 5:10:49 PM
From: DlphcOracl	Respond to of 13660

ALTERN8: What this divergence tells me is that the entire market is overvalued and this is not restricted to tech stocks. Just look at the P/E and price/sales of some of the large-cap retailers such as KSS, HD, WMT, and many of the restaurant chains. They are even more overvalued than many of the tech stocks and are trading at the high end of their historic valuations. There are very few sectors which are attractive. My point: the Dow and S&P need to correct as much as the NASDAQ.