It Was Just One Day

Today merely erased Monday’s loses.  Bernanke’s speech did not turn around the markets.  The economic news today continued to be terrible.  But, the market is fairly priced right around 750 and the markets know it.  The trading range holds.  BTW, using Schiller’s method of calculating, we’re currently at a P/E of 13.  That’s good news.  15 is the long term average, 10 often marks the end of bear markets.  I expect more sideways for months if not longer.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s