This is a little bit scary, because the indices PERs are still very high:
- Dow Jones 30: 77 (no kidding, thanks to GM and its huge losses)
- S&P 500 : 23 (still very very high, compared to historical averages)
- Nasdaq Composite: 27 (according to WSJ).
- JNJ -1%
- IBM -3%
- WMT -6%
- MCD -9%
UPDATE: I just found this on the WSJ. No wonder my shorts on the Russell 2000 are not bringing any money!! The companies are collapsing, but the index is still holding!
NOTICE TO READERS: The Russell 2000 P/E of 2470 is correct. The EPS are very small because of write offs and such in the current quarter.