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

To: Return to Sender who wrote (54745)	11/28/2011 10:18:36 AM
From: robert b furman	Read Replies (1) \| Respond to of 95640

Hi RtS, Looks like your 9 to 1 day is today - if we hold current prices. A strong close will ring a bell - NO? Bob

To: Return to Sender who wrote (54745)	11/28/2011 4:51:19 PM
From: Jacob Snyder	1 Recommendation Read Replies (1) \| Respond to of 95640

<the actual P/E ratio here> That chart is of the PE10. It uses 10-year trailing GAAP earnings, per Schiller. Other PE charts use pro forma, or 12-month trailing, or expected forward earnings. It is possible to use PE to justify bullish or bearish conclusions, depending on what definition of the E in PE is used. Many valuation discussions are really apples-to-oranges comparisons. I prefer using PE10, because trailing 12-month earnings are always a lagging indicator, at stock market turns (both tops and bottoms). And forward earnings estimates are random numbers. I prefer using GAAP, with all its faults, because at least it is consistent. The definition of Pro Forma earnings is different from company to company, and even quarter to quarter. <I don't mind a solid fact filled disagreement> I invite it. If I'm wrong, I want to know it. I don't mind being wrong; I do mind losing money.

To: Return to Sender who wrote (54745)	11/28/2011 5:44:01 PM
From: Sam	Read Replies (1) \| Respond to of 95640

Their chart is using is using earnings of $84.13, reported as of June 2011-- multpl.com Pretty obviously I haven't gone through the most recent SP500 reports and culled GAAP/non-GAAP earnings to see what has happened since then, but, without looking it up, I believe Merrill recently said TTM earnings were around $97-98. But I don't know if that was GAAP or non-GAAP. And, of course, TTM earnings mean less than nothing if we are in fact heading for a recession in 2012. Or, worse, another credit crisis.