It is a bit puzzling as to the nose-diving of the P/E. Perhaps the market is a bit too forward in it's assessment - thinking that the recession could drag out more than x number of years. The 10% could be multipled by a factor of 2 or 3 if auto sales decline exponentially - with continuous job losses in the 100's of thousands - we really won't feel the effects of it till later '09. Unless of course - Obama's recession breaking stimulus package can hault the freefall.
My opinion this week is going to be a big week for the market the stimulis bill being signed in DENVER, Obama putting together a presidental task force for auto, 50 to a 100 billion to stop home loss. this maybe our lifetime chance to get a slice of the pie. Im in hayz at .43 .42 .30 .15 and think ill load up tuesday before this thing rockets do you know how many shares are owned by institutions at this time?
I myself dont see any reason why this wont be trading 50 cent plus in near future.
Just think if you want to load and you have somebody at S&P to bash for you........
Oh yeah - just like the analyst from G Sachs that said oil was headed to $200 (oil price at the time was $130), that some have suggested may have been a ploy permitting some to off-load oil futures at the high.
Think it goes on? Some have suggested that there is a distinct probability that sort of thing goes on all the time.
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