absolute rubbish day, page-12

Pecora,

I doubt if an atomic bomb would make our market go up tomorrow - it seems to have a mind of its own of late. We are leading foreign market down and not following them up.

With all of my knowledge it beats me as to why our market has bombed out so quickly. Gone from one extreme to the other (guess that is typical tho?)

Accepting there are problems in some areas, consumer discretionary spending, housing and a couple more, I cannot accept that things are as bad as some stock p.e.'s would have one believe.

Our bank stocks have been hammered to unreal low forward p.e.'s - below their European and USA counterparts, yet most "knowledgable" analysts correctly point out they are not subect to the same negative factors as their counterparts.

Some of the mid-caps stocks I follow, notwithstanding the have confirmed previous 10%-20% profit growth estimates, have been marked down to p.e.'s of around 7 and gross yields of 10%+.

Now if only I had the ... to take out a mortgage on the house, gear it up thru ML. and stick in the bottom drawer for 5 years!!!!!!