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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Stingray who wrote (9233)	11/6/1997 1:04:00 AM
From: studdog	Respond to of 94695

Conventional wisdom last week was that we were going to retest the lows this week. We'll, we are retesting the highs! So much for conventional wisdom. But, I think it sets us up for a real retest of the lows. Take a look at the PE's of many of the DOW and S&P 500 companies, such as KO, GE, and then compare that to their projected growth rates. Then, factor in the inevitable reduction in growth from the international stuff. Then, decide if those indexes are likely to go higher or lower from here.