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


To: marginmike who wrote (14890)10/29/2002 10:33:42 AM
From: Alex MG  Read Replies (1) | Respond to of 19219
 
but bear markets have bull rallies lasting 8-12 months

8-12 months??

Have we had a rally since the March 2000 top lasting that long? No, they've all been short 1-3 month affairs, typical fast and furious bear market rallies.

The simple fact is the stock market is still grossly overvalued... "Last week S&P published a better picture of real earnings to establish a reliable and accurate benchmark for investors to value equities. By adding back writedowns from ordinary business, adding pension losses and accounting for stock options reduced S&P 500 earnings by more than a third. Stocks are still selling at 37 times earnings and 54 times net income or real earnings."