dow unquestionably unstable and dangerous, page-54

I think you have something with PE's the lower they get, the more attractive stocks become - unfortunately sentiment remains the biggest driver right now - and it will defy any analysis - when that changes the party starts anew..... my feeling is that we're about half way through the current crisis, assuming it started at the beginning of the year when everything seemed to go off the boil... and, as you indicate, nothing is more certain than that the markets will at some future point surpass their old highs - I just wanna be still breathing when that happens....