another bubble run, page-106

scary graphs ...

according to those graphs you have to go back nearly 100 yrs since we've been at these levels and crashed ... 87 was lower than now. 97 was a bit closer.

i guess all that REALLY means that is ... in saying that valuations are not excesssive now would not only be not totally accurate, it would be absolutely no reason at all to suggest a crash could not happen, since history shows the markets have crashed on lower than current PE levels.

puts a whole new perspective on it really.

am surprised to see the ASX current ave PE at around 18 ... going from the ones i looked at during the week i thought it'd be around 23. still,i wasn't far off.

incidently, though i keep referring to crashes, i don't believe we'll have one - yet. but i do certainly believe a correction is imminent, one that will possibly go back all the way down to the previous high of the last run. if we hadn't seen such bullish action i would not say that, but golden rule, higher you go, the futher you fall.