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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (6714)2/19/1999 5:53:00 PM
From: Lee Lichterman III  Read Replies (1) | Respond to of 99985
 
Nice to se you here. Any idea what is going on in the GAX gaming index. I just got my index sector data downloaded and it had another big day up. Did Buffet and Soros give up on the market and decide to play blackjack in Vegas this weekend or something?

Insurance also had a big day. Unfortunatelly those were the only sectors that did anything note worthy.

Good Luck and welcome aboard. Sorry I haven't had a chance to post on your thread yet. Been real busy trying to get fills and post views in this whip saw market of late.

Lee



To: Sun Tzu who wrote (6714)2/19/1999 6:32:00 PM
From: donald sew  Read Replies (1) | Respond to of 99985
 
Sun,

Welcome. I believe that historically the average PE for the S&P is in the teens, and I am aware that the P/E has gotten below 10. Lets say that the P/E gets back to the 15-20 range. With the current P/E near 30 that would mean a 33%-50% haircut.

How soon, who knows - it could be years, but I would make a wager that we will see that haircut, before we see 15,000.

Seeya


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