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Strategies & Market Trends : APMP (formerly APM) -- Ignore unavailable to you. Want to Upgrade?

To: Bald Eagle who wrote (10926)	4/27/1998 5:48:00 PM
From: SpecialK	Respond to of 13456

The Wall Street Journal had an article today, saying that the FED may raise rates, to slow down the economy. Not at the May 19 meeting, but perhaps in July. Bonds fell, as the 30yr bond went above a technically critical 6% rate. So the market fell, with the DJ down as much as 220 points and the NDQ down nearly 63 points. Slight rally, but not much. I view this as an overreaction to a market that is at lofty heights and many people ready to push the trigger finger and SELL. Overall, many undervalued stocks out there. There was a Barron's article showing that the NDQ pe is above 50 and if you take out MSFT, INTC and CSCO, then the PE is 90. Perhaps, there are too many internet stocks trading at a 2000 PE that are bringing up the average. Just my humble thoughts, Ketan