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

To: kas1 who wrote (9237)	11/6/1997 1:29:00 AM
From: studdog	Read Replies (2) \| Respond to of 94695

Oh my god!!!I'm growing hair on my arms! I'm becoming a ,a,..... a BEAR!! Tomorrow's WSJ- 7 economist are revising growth next year down from an average of 2.6 to 2.1%. This is a %20 reduction!! Stocks are already overvalued as much as 17% (fed valuation model, September) . Stupendous earnings are just about all that can support these prices and high PE's. (Or a tremendous drop in Bond Prices could do it). If Growth really will be down 20% from recent estimates and down 40% from this year's 3.5%,. I don't a see any stupendous earnings in the offing. I have been nervous about the market (large caps) just on the basis of valuation. It may be worse than I thought. I just pulled out the honey jar and I'm thinking about hibernating. Karl