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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (36264)	5/17/2002 1:19:29 AM
From: Vitas	Respond to of 52237

charts updated: geocities.com

To: John Pitera who wrote (36264)	5/17/2002 9:03:12 AM
From: pvz	Read Replies (1) \| Respond to of 52237

John, I agree with that fully. If the market as a whole was fairly or even slightly undervalued last week, the resulting outflow from treasuries caused yields to rise, and now the market is a little overvalued. Inflation and further yield increases will only increase the degree of overvaluation in the future. My original point was simply that the S&P500 was more fairly valued last week than it had been for most of the past 14 years. I don't have data going back before 1988. Without diminishing your point about money supply growth and inflation, it is worth noting that the S&P's natural habitat seems to be in overvaluation territory. Pvz