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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Gary E who wrote (21954)	4/29/1999 10:10:00 AM
From: Nemer	Read Replies (1) \| Respond to of 44573

Hello Hal -- Went long 1 mini at 1360 stop set at 1359 looking for 1363 Thought you might find this report interesting ..... from Briefing.Com -- When the Dow went through 10,000 we said it would not be surprising to see the market surge 20% in a few months. It might happen. But that just means valuation is being driven to even higher levels. If earnings on the composite S&P 500 goes up 8% for the second quarter on a year-over-year basis, that means that the total earnings for the past 12 months go up 2%. So, if the market goes up 20% this quarter, and the earnings went up 2%, the price/earnings multiple obviously expands. In fact, the P/E on the S&P 500 has surged to 36.1 based on yesterday's close and fourth quarter earnings. First quarter earnings look to be coming in around 8%, so that could lower the P/E to 35.4. Then, if the S&P rose another 13% to 1539, the P/E would be at 40. It used to be that a P/E of 20 was high. Now, it is possible that the P/E will hit 40 within, what, six months? Maybe sooner? What is just as amazing is that there are few places you will even hear about valuation anymore and this on the armadillo situation in my neighborhood ... reported attacks and effeciency thereof in the past week. 1) hired hand attempted to dispatch 'dillo with garden hoe .... no visible damage and critter escapes 2) neighbor hits 'dillo with a sack of trash while on her way to put it out for curbside pickup ..... no visible effect 3) same neighbor attempts assualt on suspected same animal with baseball bat the next day ..... same results as before 4) upon realizing that the above folks weren't native Texans, but were from somewhere in yankeee land, neighbor accross the street from them brings out a 12ga and sends the beast to the happy hunting grounds. 5) another neighbor, an import from New Jersy, calls the city and complains of the seeming 'dillo infestation ... gets the dog catcher (is called animal control now, but d/c is what he is to me) who sets five live traps and is having less effect than the above methods of trash sack and garden hoe. 6) I shoot one with a 22rimfire pistola .... results were fairly predictable and the corpse was hauled away by the trash guys. you wouldn't be responsible for sending any 'dillos up my way from Houston , would you ? Nemer EDIT -- got the goal while I finished typing this post ... awaiting another scalp opp ....