Not that my opinion has much clout, but I can have one nonetheless 😉

The week before, Dow Jones price-to-earnings ratio was about 63 (current, not forward). After last week’s several earnings announcements, and even after Friday’s big drop, its P/E currently stands at 98. Since earnings aren’t expected to rise much in the next little while, it’s reasonable to assume the markets will drop, and probably a lot more.

I’ve thought about starting a long-term buy-and-hold portfolio of stocks, but I just don’t see anything attractive at the moment. I feel that even stocks and industries that look moderately priced will get cheaper in the next year or two, along with the general market. The environment doesn’t seem right, there’s so much going on now. There’s not necessarily a lot of fear, just uncertainty. Swing trading is my MO these days.