Question on the p/e ratio..Most newspapers are still quoting the...

Question on the p/e ratio..Most newspapers are still quoting the p/e around 20-22, and etrade quotes it at 11ish..What is the a p/e of 8/9 based on? Is this forecast 2010 earnings? If so, do we need to wait for these results before the market will recognise the low p/e??

Also, 1 week until anniversary of Handle Bar Hill loss and a few weeks away from this years half year results...should be interesting little period ahead!!

Jason