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Bobr,
If you look at the band of historical values for the past 100 years you
will see that you could halve the DJIA or S&P and it would still be
expensive. Back in 1974, I was buying stocks with a 6 PE and a 6% div.
yield. Where would those valuations put the current indices? Oh my! <G>
Cheers,
Norman
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, September 03, 2001 4:39 PM
Subject: Re: [RT] There Are No Rules!!
> Let's assume that W. Buffet is correct in that we are in for 8 years of
> stagnation or slow growth. I did not read his exact comments and might be
> in error on the paraphrase. Then lets assume the Dow dividends will
remain
> the same or even decrease. In July they were $174 with the DJIA around
> 10,500 yielding 1.65%. The snp and the dow tend to run into stiff
> resistance at 1.5% dividends. It seems to me that prices are not yet
> reflecting the reality of Buffet's analysis. Nor are they reflecting the
> significant tax selling directly ahead. The olde megaphone is speaking
> rather loudly about a drop to the area between 8000 and 9000 at a minimum
> and that would only bring the yield up to 2%. It just doesn't seem like
too
> far a fetched possibility.
>
> bobr
> http://www.zubee.com
> http://www.oextrader.com/sigma_trader
>
>
> ----- Original Message -----
> From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> To: "Realtraders" <realtraders@xxxxxxxxxxxxxxx>
> Sent: Monday, September 03, 2001 1:11 PM
> Subject: [RT] There Are No Rules!!
>
>
> > I have been reading the Daily Comment columns (left side of main page)
for
> > some months now at http://www.comstockfunds.com/ and have found many to
be
> > interesting, especially since they provide some balance to the constant
> drum
> > of bullishness still found in the media. The latest daily comment "There
> Are
> > No Rules!!" offers a pithy counterpoint to those who argue that the
> oversold
> > technicals (TRIN, A/D, oscillators, etc.) demand an end to the bear
> market.
> >
> > Earl
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
>
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxxxxxx
>
>
>
> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
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