HELP!!......inconsistent data on market PER

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    I have a question regarding market avergae PER data........I developed a system (which I'm very happy with on backtested data) for determining market requires average market PER figure.

    The source I used to back test the theory was a chart shown in Shares mag with the source listed as ASX..........other sources of info for this data in the past have been the tables in the back of Shares (in a monthly basis) and also in the Fin Review weekly whch no longer appears to be published.....may be due to new indice set up.

    There has always been a bit of variation between the sources but what I've seen in the last week or so is ridiculous.

    1. According to the tables in Shares the market PER between early this year and May has gone from 22 to 25 (while the market's been falling!!!)........this is possible in theory if smaller companies have been rising at the expense of blue chips and the figure is not a weighted average. Still seems odd as the figures generally tend to follow the market as a whole.

    2. Then I see the latest Shares Weekly figure (kindly emailed to me by pip1) which quotes the avg NBI PER of the market as 18!!!! Meaning if it is consistent with the above figure we have lost 7 points in a month.......we only lost 9 points in October 1987!! BTW............what does NBI mean???

    Anyone have any thoughts on this??
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