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To: waverider who wrote (5204)	11/9/1998 10:35:00 AM
From: The Ox	Read Replies (1) \| Respond to of 14427

Internuts exploding to new highs....wow!

To: waverider who wrote (5204)	11/10/1998 7:57:00 AM
From: RGinPG	Read Replies (2) \| Respond to of 14427

I'm sure that most on this thread will agree that the market has come too far too fast in the last month. It's probably time for a correction within the next couple of weeks. The valuation model I use for the S&P500 has gone from the grossly oversold range (.95) to the slightly overbought range (.69) in just a month. The valuation number is calculated by dividing 100 by the projected P/E of the S&P500 and then dividing that by the 10yr Treasury rate. Historically a normal range is .65 to .85. When it gets above .85 it has been a good time to buy. Below .65 is a good time to sell. I'm working on a graph for this, a picture tells a thousand words. dismal.com I imagine also that after the much anticipated and already priced in cut in Fed Funds rate that will occur in a couple of weeks, the market will correct. I plan on taking some profits slowly over the next week or so in my EWF and keep holding on to my shorts in OSX. osxstocks.com