Indices PER update

So with the mega sucker rally following the no-news period (well maybe some news: US Gov and Fed injecting many more dozens billion USD in the market...) the PERs of indices have been taking off:
  • DJ INDU: PER close to 80
  • S&P 500: PER close to 26
  • Russell 2000: PER close to 2600 (Does "2000" in "Russell 2000" actually refer to the PER of the index??).
These PER confirm that there's actually no downturn and everything is going well in a perfect world.
I am glad that Mr Market is here to clarify this situation for me, I was about to have a few doubt about "the strength of our economy" which "is growing steadily". Thank god we killed all the dangerous short sellers and commodity speculators. Oh, by the way, Oil is up 4% to 125 USD per barrel.

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