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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (54544)	11/6/2011 4:07:27 PM
From: Return to Sender	Respond to of 95587

For the most part I am only copying and pasting Sam not quoting. When one looks to the future I certainly do not have a crystal ball. I also agree that no one should believe everything they read. Especially what I myself write instead of copying and pasting. We all have a bias. I do however try to change mine when warranted. I also know that it is accurate to say that the market has reached lower P/E ratios in past bear markets. I agree that the current P/E may not be accurately portrayed in the article I shared. But then again saying a P/E of 10 is Bear market low territory for the S&P 500 is not accurate either. At this point I am interested in what Lakshman Achuthan has to say tomorrow. Not interested enough to get up that early tomorrow morning but.... Unless ECRI says something new (Like we will avert a recession after all) it would be unwise to believe the market is accurately portraying the future with its recent rally since early October. The market has incorrectly rallied despite dire forecasts from ECRI in the past for a couple of months anyway in 2001 and 2008. JMHO, RtS

To: Sam who wrote (54544)	11/6/2011 4:44:32 PM
From: Donald Wennerstrom	2 Recommendations Read Replies (1) \| Respond to of 95587

Sam, I started looking around on the internet to see if I could find the reason for the differences in the PEs being quoted. Now that I have looked for 15 minutes, I am an expert!<VBG> Apparently, the difference is in the definition of the PE to be used. There are several definitions, but I zeroed in on 2 definitions, "reported earnings" and "operating earnings". Reported gives an answer closer to 20 and operating gives an answer closer to 10. The charts below are from: stocks.daytodaydata.net