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  1. So Guys it seems the Bears are running away with the indices in the US. What are we calling them down to before a sustained rally????? Anyone up for some predictions / bets?

    My thoughts are below... (By Oct this year - when they all realise that the earnings growth recovery never happened and is still some time off... OZ indices will not be able to hold back the tide...

    Nasdaq 1200 (-25%) from current levels
    DOW 7500 " " " " "
    S&P 820 " " " " "
    Oz Ords 2850 (-15%) from current levels

    Ouch!! Wont need OSAMA to kick this one off - Watch it happen (This will bring the average earnings for S&P down to realistic levels at approx 15X. Dont believe the OZ figure? Wait til the banks get burned big time with Residential Real Estate in NSW and they start their retreat.....The house price collapse in Sydney is just about to start....

    SHORT Sur`ge
    (except for SMX - still LONG all the way to $1.75 - FY03 @ EV=25 X EBITDA over 328M shares - Oh my God what a great cash cow!!! - and safer than the banks in the current environment!)

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