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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: marc ultra who wrote (2605)	12/29/1998 12:36:00 PM
From: Lars	Read Replies (1) \| Respond to of 15132

Marc, >>> comment:still comfortably in "neutral zone". I tend to like it when breadth is a bit crappy, anything to keep the technicians cautious helps keep sentiment from getting excessive while I'm still able to make some money. I've pretty much decided if we hit 70 on any reading I'm going to strongly consider some defensive action. This indicator's just been too good at calling corrections lately. My best hope is we have a strong January and can get through it without excessive bullish sentiment >>> I agree with you 70 target. In our correction 4 months ago a person could have avoided some pain by taking some money off the table when it reached the upper 60s. I don't recall exactly what it was when we started correcting. You make a good point imho.

To: marc ultra who wrote (2605)	12/29/1998 12:43:00 PM
From: MrGreenJeans	Read Replies (4) \| Respond to of 15132

Another Indicator The S and P 500 is currently at 1235 as I write. Divided by projected earnings of $51.50 gives one a market price earnings ratio of 23.98. There has been some indication on this thread that Bob will raise his targets in the January newsletter but without an increase in projected profits this market is looking pretty ripe for some profit taking or a pullback to me. In short, this market is looking expensive to me or to put it another way how many fortunes are made buying stocks at 24xs earnings?