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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: larry who wrote (3402)	2/22/1998 2:40:00 PM
From: Oeconomicus	Respond to of 18691

it will be very hard for the S&P 500 to trade below PE 20 in the near future. larry, I hope you realize that a 20 PE as a floor for any downside risk in the market leaves you with 22% of exposure. Do you think there's anybody left to buy that dip? That money will just appear out of the woodwork to push it ever higher at 20-30% every year? Returning to a 20 PE would be a little more than the normal correction that everyone is so accustomed to blowing off and I doubt it would stop there. OTOH, I may be missing a big opportunity to buy now and sell to a greater fool later. Bob PS: I do find it amusingly ironic that Abby "the bull" Cohen would make the cover of "Bearon's" now.