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


To: Joan Osland Graffius who wrote (13098)1/12/1998 3:02:00 PM
From: Nathan  Read Replies (1) | Respond to of 94695
 
Ground Zero, Judging what you said about outside reversals, you expect some failed rallies early this week and then a drop still this week, correct? What kind of rally would eliminate such a drop from taking place? TIA, Nathan



To: Joan Osland Graffius who wrote (13098)1/12/1998 3:28:00 PM
From: MythMan  Read Replies (1) | Respond to of 94695
 
Joan, GE at $40 would give it a trailing pe of about 17 which is not

too out of line with historical norms. The multiple expansion has occurred in the last two years, like the rest of the market. I'm sure the fund managers wouldn't mind seeing GE get clipped as 1) its underowned by them and 2) they might be able to beat the S&P 500 index then <g>

Pete