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

To: dennis michael patterson who wrote (8165)	3/14/1999 10:59:00 PM
From: umbro	Respond to of 99985

Yardeni: My favorite stock market model shows that stocks are currently 29% overvalued. And that's using consensus earnings forecasts showing gains of 15% in 1999 and again in 2000. These are unrealistically high, in my opinion. The market is priced for perfection and perpetual prosperity. When the crowd believes that nothing can go wrong that's when things usually go wrong. This is not to say that good things aren't happening. Asia has hit bottom, for now. Japan is slowly restructuring, and the Nikkei is responding positively. OPEC's promised output cuts are lifting stock prices in the energy sector. US growth is booming, while inflation remains near zero.