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To: Return to Sender who wrote (5534)	9/22/2002 12:50:23 AM
From: Gottfried	Respond to of 95480

RtS, I've dismissed this writer as being too bearish in the past, but I came to the same conclusion as he did yesterday after reading that Schaeffer postulated another VIX>100 spike. My thoughts on Bernie's VIX... investorshub.com and what Hamilton says >The super-bears arguing today for another crash in US equities and a VIX 150 approaching should remember 9/11 and also realize that historic probabilities are vastly opposed to such arguments. Yes, a crash is always possible, but only probable within a month or two of stellar supercycle bubble tops. Crashes don’t happen years into supercycle busts!< What he says later I don't like but see no way to refute it directly >At current earnings the S&P 500 will bottom under 500, the Dow 30 under 5000, and the NASDAQ under 400. Yet, just as in history, this ongoing bust process will be slow and painful over many more months or years< Questions: when was Nasdaq established? Why is Nasdaq PE ONE monolithic number when hundreds of stocks [Zeev says maybe 2000 since the bubble top<?>] have been removed from it? Why should cyclic stocks be valued like others when historically they have had the highest valuations near fundamental bottoms because investors foresaw the coming rise in sales? Gottfried

To: Return to Sender who wrote (5534)	9/22/2002 1:39:55 AM
From: Gottfried	Read Replies (2) \| Respond to of 95480

RtS, I just did some scans for Nasdaq stocks under $1.00 and Stockcharts returned 999 names [it tops out at 999]. Less than $0.50 I got 999 and less than $0.10 I got 860 stocks. 461 stocks were under 2 cents. Something wrong with that scan? Scan criteria... For the last market close: • NASDAQ Stocks with... • Daily Close for today is less than or equal to 0.02 How can that be when Nasdaq is supposed to delist under $1.00? If these scans are anywhere near correct, how can a P/E for Nasdaq have any meaning? I know a stock has to be under $1.00 for a time [30 days?] to be delisted. It's late but I will pursue further. PS: NYSE had 39 stocks closing at <$1.00 Friday. Gottfried