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To: Broken_Clock who wrote (28486)	8/27/1998 5:36:00 PM
From: Don Westermeyer	Read Replies (3) \| Respond to of 95453

PK, In 1982 the P/E for the S&P 500 was only 7! That valuation would knock about 70% of this market. Of course interest rates where a lot higher then too. Just pointing out what you apparently already know.

To: Broken_Clock who wrote (28486)	8/27/1998 5:42:00 PM
From: Snowshoe	Respond to of 95453

>>Normal over the last 100 years might be closer to 10pe than 30pe...something to consider.<< PK, I fully agree, there is a tremendous amount of complacency out there. Several important sectors crashed further than the OSX today, including semiconductors (SOX), networking (NWX), and brokerages (XBD). We could see a lot more of this. Perhaps the time to invest in the OSX is when/if it starts to hold its own on days when the others are being crushed. -Greg