Flippin' 'eck! Didn't see this before.
The S&P 500 is heading for its first EVER qtr of negative earnings! 400 out of the 500 S&P 500 companies experienced a loss in Q4 2008, and thats even excluding financials!
http://www.marketwatch.com/news/stor...9706D565667%7DAs of the close of business Thursday, Silverblatt calculates S&P earnings per share, on a reported basis, at a loss of $10.44 for the quarter. If financials were taken out of the equation, that deficit would drop to $2.35 a share.
Do you know what that does to the PE ratios???
http://www.decisionpoint.com/TAC/Swenlin.htmlAre retirement fund investors willing to trust the FED to bring back the post-1991 stock market? Will they remain fully invested in stocks because they think that fiat money and the largest deficits in American history will bring back the NASDAQ's P/E ratio in early 2000: 200 to 1?
Incredibly, if we use the TMT figure for earnings – twelve-month trailing earnings – the S&P 500 in today's range will be 183 in the second quarter and 235 in the third.
Those earnings and PEs don't bode well for a bottom in the stock mkt even with the trillions of new dollars being created by the Fed.