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To: Richard Russell who wrote (29891)3/10/1998 3:39:00 PM
From: johnlea  Read Replies (2) | Respond to of 53903
 
sooooo, here's kind of a thought pondering set of questions to the thread. . .

the s&p now trades at 26 times trailing 12 months earnings. the s&p "channel" (show it to us, larry) since dec '97 looks like a missile launcher.

EVERYONE (including the anal-ysts) agree growth is slowing. interest rates seem stuck around 6%.

the questions. . . .how high can the s&p go. can it get to 30 times earnings? is 26 times earnings fair value? or should there some sort of near-term correction?