WARNING: Look At What Just Hit March Of 2000 Levels, Which Triggered Stock Market Crash

Monday, July 15, 2019
By Paul Martin

July 15, 2019

As we kickoff trading in the second week of July, look at what just hit March of 2000 levels, which triggered the stock market crash.

CAUTION: At March 2000 Levels
July 15 (King World News) – Peter Boockvar: So the bar for earnings season is a 70% beat rate give or take as it always is. And try to separate what’s a beat due to stock buybacks and what’s at the net income line. As a new batch of tariffs hit mid month, revenue growth is slowing and margins are receding this will be quite an informative 4-5 weeks ahead of us with the stock market at record highs, 18x earnings and the belief the Fed will engineer a soft landing. As for the valuation metric I like to watch, the price to sales ratio as it takes out a lot of earnings shenanigans, that is just shy of the March 2000 level.

Valuations of course don’t matter until they do so this is a meaningless stat for now. That said, valuation all of a sudden mattered in Hong Kong on Friday when Anheuser Busch Inbev couldn’t get the IPO of their Asian unit off the ground because of valuation push backs.

WARNING: S&P Price To Sales Ratio At March 2000 Levels, Prior To Stock Market Collapse

The Rest…HERE

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