"Today with 53% of companies' results reported for the 2nd quarter 2009 the Operating PE is surprise, surprise "only" at 22.87. So according to CNBC and Wall Street the S&P 500 is fairly valued so please ignore reality, live in denial and BUY!!! Unfortunately the reality shown by the as reported PE is a truly mind blowing 723. I repeat 723, the previous all time high was 46".
ARTICLE ON SPX PE RATIO buying because prices are going up has always ended well hasnt it....
D
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3 comments:
As long as you sell to the greater fool before it drops, remember the sky is falling run for your life said the bear. This is the biggest rally in generations, too bad some are too blinded to play. good luck beating the prices down!
Your blog is great. I agree with a lot of the things you say. However; if stocks are going higher, you need to be buying and set your risk limits. You're missing a great rally.
Thank you (in the future you may want to identify yourself with first, initials, or online moniker so I know who I am responding to)
I agree once a trend is established, you can come in, set stop losses and hpefully get some wind at your back and move the stops up also if you wish to LOCK IN profits.
I had come back in 2 accounts but came back out perhaps a tad early around 8800 dow to do just that lock in those gains.
I'm not denying the rally, but as it has gotten older, and moved quite sharply off the lows of March, it pays to look for TA that may suggest the rally is topping.
I would like to offer more specific reccomendations, but in this format I am limited. One day this may evolve into something else as I own the .com of some....for now I enjoy doing what Im doing and share the occasional charts to make a point.
Being SHORT would alter my opinion in a big way, at this time nor have I been during the entire rally....so I usually dont make too many mistakes.
Because the rally may be in a topping phase, for me personally...I am waiting for a better long opportunity or SHORT should that present itself.
My fundametal views may collide with the movement of the stock market, but if what I suggest is accurate, the market will reflect the reality, there you dont want to be in denial either and stay longer than prudent, good luck
Thursday I had 141 hits to the site, something good is happening after all the years of effort I have put into it....if you wish, please let me know how you found my blog, thanks
D
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