Markets needed to rest up along with traders & investors.....as everyone is tired of all the economic woes ....
Stimulus package needs to be passed by Senate.....House had NO Republican vote in passage...pretty sad day for "politics FIRST & country LAST"
G-7 meeting over the weekend also was a reason to do nothing in the markets.....
Dow is sitting @ 7850......pretty close to bear market LOWS.....
By 10 AM on Saturday ...I will list technically weak/strong/buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Hi Saleem,
ReplyDeleteThanks so much for all your thoughful insight. I really enjoy reading your blogs! Question- If the earnings for 2009 are projected at approx $55 and assuming a P/E of 15 isn't the S&P fairly valued at 825? Thanks again charlie
Hi Charlie,
ReplyDeleteGreat question & good handle on S&P earnings.....
But the real question is are we going to trade on 09 EPS or start trading @ 2010 EPS.....
As market generally looks ahead..so we are trying to discount 2009 EPS.....
We MAY be close to finishing discouning 09 & MAY start looking towards 10.....
Saleem