Zeev's Turnips Patch-No Politics (ZEEV)

[duper_man]

"during the secular bear of 1966 to 1982, the economy's average rate of GDP growth was greater than during the following secular bull market from 1982 to 2000"

Excellent point Zeev. This was precisely why PE's on the Dow got below 10 in 1982 on a trailing basis which marked the beginning of the bull market. Now we have the NDX sporting PE's of 38 using next year's earnings. I think the trailing PE on the NDX has hit triple digits right now which should make this a rally a bear market rally. So from the valuation prespective it should be fully retraced. The timing of it is obviously another matter.