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Another excellent observation! So a P/E of 7-10 implies an S&P 500 price range of 408-582, so there is a LONG way to go before the market bottoms.

That is a VERY good point. 15 is indeed a fair value, and so the current market is overvalued by 26%. This would imply a current FAIR VALUE price of the S&P 500 of 872 making a P/E of 15...

That is the "Shiller" P/E ratio!

Follow the herd! Sell, sell, sell!

QE1 and QE2 took S&P 500 from below 700 to over 1300! It works like a charm! Now without QE3 S&P 500 is doomed.... back to 700 if not less.

No QE3 :( I am now SHORT! Damn :mad:

2:22pm now and no annoucement. WTF???

Thanks! I am betting (Long) on QE3 :)

What time exactly will the Fed annouce QE3?

Thanks for the replies. There does not seem to be any Inverse Natural Gas ETF, sadly. The Canadian one seems to be the only one, but it is leveraged (2x) and Canadian. So of no use to me. If anyone does find an Inverse, then please let me know!

Shorting ETFs is a pain. My broker charges hefty fees and then sometimes they close a position at their discretion and without notice - a "buy in". So it is too risky and expensive to short an ETF - at least for me. Normally there are ETFs for for Short and Long of almost everything. Hence...

That is INVERSE. So just like UNG except whereas UNG is bull I want bear. Thanks.

Big mistake. It is down right now. Should have waited out the rally. Short is obviously the way to go...

Hang in there. Sucker rallies never last... the economy isn't getting any better.. so it can't last long.

Jobs report came out this morning which was terrbile. 91,000 vs 100,0000 expected. STILL the market is up. Futures are up >1% already. WTF?

Nice observation. Do the pros know something about tommorow???

We are humans, and so we can think! It is just logic or common sense even. Anyway, it will go down later this week or next....

It is really p*ssing me off. :mad: Obviously this is a "suckers" rally. Why are these idiots buying??? I hope all those sucked into this "rally" go broke and get unemployed! Hopefully they will add to the current 9.1% or whatever it is... Sorry but I had to vent my frustration...

"Bernanke, who is scheduled to speak on Friday at 10 a.m. EDT, is most likely to outline gradualist measures, which would disappoint those looking for dramatic action, such as a fresh round of asset purchases." 10am Eastern? WTF...

Thanks for the info. Is there a web cast or any other live coverage on the web? Yes agree about the volatility - VIX will break 50...