Is recession coming to an end? Some signs the worst may be over
Fundamentally I really do feel that the market is overextending this rally and it confirms for now that fundamentals are not working at all in this market environment. P/E ratio for S&P 500 is now at its all time high close to 20 already in a recessionary environment. This is remarkably overbought I believe but what can we do when investors are being fed with only good news in the papers. Crude oil is climbing higher and higher and is about to reach $60.00 soon while weekly inventories are still in excess.
BTW I have converted to Bloomberg now from CNBC as I am getting tired of their chatter. Still a fan of Fast Money and sometimes, Mad Money.
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