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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: lurqer who wrote (15232)	12/4/2002 3:48:22 AM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 57110

Naz weekly stockcharts.com[r,a]whclynay[p][iub14!la12,26,9!lp14,3,3!lh5,5!li14,3][J8643966,Y]&listNum=1

To: lurqer who wrote (15232)	12/4/2002 12:41:21 PM
From: Lizzie Tudor	Read Replies (2) \| Respond to of 57110

Note that in the Great Depression, valuations never got as low again as they were in '32. Ah! Well thank you lurqer, that explains things. I'm having a tough time with the valuation argument in general now because many of my companies are trading for cash or close to it. Sure the p/e is sky high and that is skewing the indices they trade in. Thats the real reason the valuations are high here imo... cash levels. Here we are in an easy money environment within a bear mkt - not like 32 or the 70s when companies really had no cash. If a secular bear mkt in the naz means we don't take out the prior high- so be it! I think we all agree that won't happen for a while. At any rate I'm not a big fan of the secular/circular claims because I never heard these things until the bear... and all is based on the 20th century in terms of historical patterns, specifically 2 periods- the 30s and 70s. Not enough data imo.