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Earl, very interesting and thanks for the effort.
Bruce
-----Original Message-----
From: Earl Adamy <eadamy@xxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Saturday, January 02, 1999 1:19 PM
Subject: Bond/SP Earnings ratio
>Someone asked about using the bond instead of the tbill in constructing the
>TBill/SPEarn ratio. I was dubious, but indicated I would construct the
chart
>this weekend. I replaced the TBill/SPDiv ratio (middle graph), in the chart
>I posted last week, with the Bond/SPEarn ratio. Unfortunately, due to one
of
>the many bugs in SuperCharts, the drawing tools I had placed in all 3
graphs
>were removed when I change the data in graph #2 (I did not save the chart
so
>they were not lost permanently). I've marked the valuation levels in the
>TBill based ratio (graph #3)approximately where they were in my original
>chart. At any rate, I think that the TBill based ratio seems to do a much
>better job of oscillating with major tops and bottoms in the markets, your
>mileage may vary.
>
>Earl
>
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