Friday, November 14, 2008

Earnings Falling -- Time to Buy Stocks

In 1982, when company earnings were falling rapidly, it was time to buy stocks. In 1991, when ... In 2002, when ... You get the drill.

It was not time to buy MEI stocks (Materials, Energy or Industrials) but the insuing strength of the other stuff was so strong that the market averages soared.

The S&P 500 total earnings is falling like a rock. Just like it did before the market took off in 82, 91, 02 and at other times in the past.