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

To: Bill Wexler who wrote (1299)	8/28/1998 3:25:00 AM
From: Moominoid	Respond to of 3339

Asia is not the only drag on US corporate earnings accelerating wage growth is too. Even so projections for the next five years were wildly too high even without a crisis

To: Bill Wexler who wrote (1299)	8/28/1998 9:17:00 AM
From: bobby beara	Read Replies (1) \| Respond to of 3339

The U.S. economy has not changed much except for some drag on corporate earnings due to the Asian crisis Bill, it takes time for this to work itself into our system (and it will) and bye the bye the Asian crisis is no longer localized, you can add Latin America, Canada and of course the Big Bear Russia. The market is a forward looking instrument and discounts future earnings, which have been declining for over a year now. Stocks even after this haircut are still double historical p/e ratios. We are in a bear market after an irrational year and a half blow-off top. Bear sentiment is now a leading, not a contrary indicator. bb