{"id":1422,"date":"2010-04-06T11:06:47","date_gmt":"2010-04-06T15:06:48","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/2010\/04\/06\/links-for-2010-04-06\/"},"modified":"2010-04-06T11:06:47","modified_gmt":"2010-04-06T15:06:48","slug":"links-for-2010-04-06","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2010\/04\/06\/links-for-2010-04-06\/","title":{"rendered":"links for 2010-04-06"},"content":{"rendered":"<ul class=\"delicious\">\n<li>\n<div class=\"delicious-link\"><a href=\"http:\/\/dshort.com\/articles\/SP-Composite-pe-ratios.html\">Is the Stock Market Cheap?<\/a><\/div>\n<div class=\"delicious-extended\">&#8230;every time the P\/E10 has fallen from the first to the fourth quintile, it has ultimately declined to the fifth quintile and bottomed in single digits. Based on the latest 10-year earnings average, to reach a P\/E10 in the high single digits would require an S&amp;P 500 price decline below 540. Of course, a happier alternative would be for corporate earnings to make a strong and prolonged surge. When might we see the P\/E10 bottom? These secular declines have ranged in length from over 19 years to as few as three. The current decline is now in its tenth year. Or was March 2009 the beginning of a secular bull market? Perhaps, but the history of market valuations doesn&#039;t encourage optimism.<\/div>\n<div class=\"delicious-tags\">(tags: <a href=\"http:\/\/delicious.com\/DrDuru\/earnings\">earnings<\/a> <a href=\"http:\/\/delicious.com\/DrDuru\/valuation\">valuation<\/a> <a href=\"http:\/\/delicious.com\/DrDuru\/S%26P_500\">S&amp;P_500<\/a>)<\/div>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Is the Stock Market Cheap? &#8230;every time the P\/E10 has fallen from the first to the fourth quintile, it has ultimately declined to the fifth quintile and bottomed in single digits. Based on the latest 10-year earnings average, to reach a P\/E10 in the high single digits would require an S&amp;P 500 price decline below &#8230; <a title=\"links for 2010-04-06\" class=\"read-more\" href=\"https:\/\/drduru.com\/onetwentytwo\/2010\/04\/06\/links-for-2010-04-06\/\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1422","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>links for 2010-04-06 - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2010\/04\/06\/links-for-2010-04-06\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"links for 2010-04-06 - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"Is the Stock Market Cheap? &#8230;every time the P\/E10 has fallen from the first to the fourth quintile, it has ultimately declined to the fifth quintile and bottomed in single digits. 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