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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: High-Tech East who wrote (13154)	6/30/2002 7:06:57 PM
From: nsumir81	Respond to of 19219

Too many wanna-be contrarian folks these days imo. Hence nothing lasts for very long these days (selloffs and rallies especially) except the overall trend to the downside (which follows general business momentum).

To: High-Tech East who wrote (13154)	6/30/2002 10:47:57 PM
From: David Howe	Read Replies (1) \| Respond to of 19219

This negates the whole article because it is such a completely misleading comparison of PEs. << For proof of this, one has to look no further than a chart of the price/earnings ratios of the S&P Composite Index Shiller compiled going back to 1881. To be conservative, he uses a moving average of the previous 10 years of reported earnings for the composite so as not to artificially boost his P/E measure during recessionary periods >> Then he goes on to compare today's PEs with this same chart. Today's PEs are "artificially boosted" due to a "recessionary period" exactly as the chart was designed to smooth out. Bad comparison and misleading. He also fails to mention how low interest rates effect PEs. Bogus article in many ways. He has an agenda. IMO, Dave