DOW futures down 800

tommcginnis said:
Wake me when we clear 2650.:cool:

S&P earnings * 20 = how much? :wtf:
But wait -- "20" is high for a historical p/e, right?:confused:
Yes, Cupcake, tha's right. Tha's right. :rolleyes:
Now, roll over and go back to sleep.....o_O


((For those who "trade" without actually knowing "the math(s)", 2650 is a good 200pts/7% or more below where we're trading now. 7%. Or more. Below. Before we approach the high end of the historic price/earnings averages. HIGH end.....))
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We're now triggered off at ~2575, down 900 points from the ATH 3 weeks ago.
What has that done for the [ever-maligned] p/e?
S&P p/e is now ~19, compared to a historic average of <15, or a post-1990 average of ~20.
The S&P CAPE (Shiller p/e) is now ~24, compared to a historic average of <17, or a post-1990 average of ~25.

We're ABOUT where we should be. Supposed to be a big ol' fright. My conclusion: in a year's time, we'll be wondering what this corona-petro-neuralgia was all about.
 
Chumpie tweeted ad nauseam "record" breaking close after close not too long ago besting Pres Obama. As if either was really responsible, good or bad results.

But he now has topped Obama with biggest one day Dow drop since 1987. Congrats.

We await 3 am sweet tweets acknowledging the accomplishment.
 
SunTrader said:
Chumpie tweeted ad nauseam "record" breaking close after close not too long ago besting Pres Obama. As if either was really responsible, good or bad results.

But he now has topped Obama with biggest one day Dow drop since 1987. Congrats.

We await 3 am sweet tweets acknowledging the accomplishment.
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The markets were always going to bitch slap him into his place.
 
tommcginnis said:
We're now triggered off at ~2575, down 900 points from the ATH 3 weeks ago.
What has that done for the [ever-maligned] p/e?
S&P p/e is now ~19, compared to a historic average of <15, or a post-1990 average of ~20.
The S&P CAPE (Shiller p/e) is now ~24, compared to a historic average of <17, or a post-1990 average of ~25.

We're ABOUT where we should be. Supposed to be a big ol' fright. My conclusion: in a year's time, we'll be wondering what this corona-petro-neuralgia was all about.
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Don't forget that denominator, the e, isn't fixed. We know with absolute certainty (which is rare in markets) it's going to drop big time at least for this quarter. And then we'll be up to above average p/e again if we stay at these price levels.
 
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