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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Jon Koplik who wrote (6180)	5/29/2002 10:07:34 AM
From: John Pitera	Respond to of 33421

Good article John. I have a couple of S&P 500 earnings charts the show earnings over the last 15 and 20 years that I want to post a bit later today. But the problem is the price-to-earnings ratio of the S&P 500 for the next 12 months is out of this world, hovering at a record 40, which leaves little room on the upside for further market appreciation. Stocks have traditionally recovered from recessions only after P/E ratios have sunk to extremely depressed levels. Rallies come more easily from lows. It just makes sense.

To: Jon Koplik who wrote (6180)	5/31/2002 4:47:30 PM
From: Jacob Snyder	Read Replies (1) \| Respond to of 33421

SOX 3Y : stockcharts.com[h,a]dahlnyay[df][pb50!b200!f][vc60]&pref=G Double bottom in April 2001 in the 450s. And another double bottom this month, at the same level. IMO, that's a floor, barring another WTC-type event. If we break that floor, then next support is at the 9/01 lows (344). As long as our leaders can keep the 4 Horsemen of the Apocalypse from riding (I forget the 4th one; who goes with War, Famine, and Plague?), I think those bottoms hold. Take profits when we get back to the January 2002 highs.