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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Caxton Rhodes who wrote (31143)	2/19/2002 11:21:25 PM
From: waverider	Read Replies (2) \| Respond to of 99280

Easy. First off stocks are over-priced by 50% based on trending PE ratios over the last 30 years. Second, during Feb and March 1994 the market made a double top. Once it busted through it, we entered into the historial mania period which made people think making money in stocks is easy. That level is the only strong support available after folks like those on the QCOM thread finally swear off stocks for the rest of their lives. We are being drawn back to historical norms. It will take awhile, but it will happen. Also QCOM will want to fill that gap around $11 it created in March 1999. wr