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

To: Terry Whitman who wrote (41262)	11/25/2002 8:30:29 AM
From: Haim R. Branisteanu	Read Replies (2) \| Respond to of 52237

Terry, today and tomorrow we are entering a cluster of GANN dates the Bradley is also at a high I think and the market is at it's high's for this move. WMT will have sales at the low end and inventories are piling up at car manufacturers. Interest rates are negative v. inflation all in all it is bad for bonds and stocks - as we enter again a period of stagflation and in some industries deflation -- strange ? yes CPI year to date is 2.7% and goods and services are close to 4% ......... and more important budget deficits are raising. Not a time to hold stocks IMHO - today is very different from my Oct. 10 post

To: Terry Whitman who wrote (41262)	11/25/2002 3:05:01 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 52237

Good question. From what I've read, many stocks were selling below book value in 1932. If you compare to earnings, (p/e) however, you may get a whole different picture, as earnings were non-existant. I am looking for info on corporate cash levels from 1932, if anyone has any idea where I can get this, I would appreciate it. My hunch (and thats all it is) is that the combination of paid-in capital for options exercising, bubble aka "easy money" conditions and lack of incentive for dividends has corporate cash levels significantly higher than 1932. Stocks don't want to go too much below 1/2 cash lately and that is putting a floor on valuations... was that the case in 1932, I don't think so- because capital was not cheap. Lizzie