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S&P 500
5,253.74
(
-0.25%
)
US TECH 100
18,164.80
(
-0.51%
)
Dow Jones
38,145.57
(
-0.77%
)
Brent Oil
82.10
(
-1.53%
)
Bitcoin
69,347.66
(
2.61%
)
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10nisman

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10nisman

Re: santafe2 post# 104455

Thursday, 01/05/2023 6:15:12 PM

Thursday, January 05, 2023 6:15:12 PM

Post# of 110439

I'd say it's bottom fishing but I don't think anyone will be surprised if we move down another 8-10%.

FY 2023 earnings revisions have barely started to be announced... We have at least two or three quarters of revisions, and to think the market is bottom fishing at current levels is wishful thinking at best. A simple bottoms up calculation using a reasonable PE multiple, and the S&P trading at 3,000 is very possible ($200 EPS x 15).
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