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Bob ,
I agree that the takeovers and buying of shares have helped fuel the fire.
However, that is a little like a snake swallowing its own tail for
sustenance(except for the efficiencies of bureaucratic reduction). Yes it
limits competition an increases market share etc. etc.
I agree that the Spooz are a bit over bought for a few days at least.
Brent
>Hi Brent,
>
>Although I am English and have only a limited perspective on these matters
it
>seems that major factors in driving the US bull market in the last few
months
>is either the prospect or the actuality of corporate takeovers or
corporations
>buying up their own shares to enhance future eps ratios.
>
>As the pe ratio on the S &P 500 is now around 38 and with the probability
of
>corporate earnings slowing somewhat it seems to me only a matter of time
>before someone observes that the emperor really has has no clothes ( this
time
>anyway). All I can say is I wouldnt go long on the S & P right now nor
would
>I write put options on it( that is unless I had suicidal tendencies)
>
>Happy New Year
>
>
>Bob Jones
>
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