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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (37890)	8/5/2005 1:44:53 PM
From: mishedlo	Respond to of 110194

S&P earnings peaked in 1997 or 1998 That is in spite of this huge run up in energy stocks and BS in the financial sector. Given the weight of financials in the S&P with almost all the profit coming from energy (a small component) it is damned hard to make a case for a higher high in the spoos. Thus the three major indicies are all likely in secular bear markets. Yes midcaps and smallcaps did well. The question is whether or not that is typical for an "echo bubble" which is what I think we are in. Mish