Below are the volume leaders this morning on the Nyse/Amex and the
Nasdaq. Note the difference in the PE ratios. Which show a degree of
reality and which still need correction. Now a major buy back will
change the PE ratios by reducing the number of shares outstanding. Can
CSCO and others on the list buy back enough shares to make a significant
change or will they eventually have to increase earnings. Ira.
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