According to this chart, the current PE on the SPX is about the same as it was at the depth of the 2002 bear low. I think they should plot PE normalized with 10 years treasuries, that would be a much better indication of relative valuation between safe treasuries and risky equities. Out of DRIV here at $53 for another $.98 and went short at the same price, HOD so far. Daily double bucker on that one as well.
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