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Strategies & Market Trends : The Stock Market Bubble -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (966)	8/4/1998 10:28:00 AM
From: bobby beara	Read Replies (1) \| Respond to of 3339

Les, take a look @ the DJA the DJ65. Perfect double top and we have now broken thru the neckline. Selling should accelerate from here. This last rally today has shown the bulls, that the bears are in control and the buyers will be absent for a while. The only ones holding this up now are the short sellers when they cover. bb

To: Les H who wrote (966)	8/4/1998 12:47:00 PM
From: Mike M2	Read Replies (2) \| Respond to of 3339

Les, when comparing Japanese PEs with American PEs it is important to note that Japanese accounting tends to understate earnings vis a vis U.S. accounting. I am not aware of the magnitude of this difference but it is significant. The Japanese mkt peaked at 135% of GDP I saw on SI thread somewhere that the US mkt is now 150% of GDP. Some other points to consider is the Japanese economy during the bubble days had higher productivity,savings and investment, lower unemployment when compared with the present "goldilocks economy" ( which is more hype than reality). During the greatest financial bubbles many economists lauded the fact that there was no price inflation when in reality the monetary inflation manifested itself in the financial mkts. Mike