As far as I know, since the southeast asia crisis there has been some changes among the sectorial earnings of DJ. The question is if Greenspan is still right and we are facing an "Irrational Exuberance -again-". If US economy is expected not to grow at 4% rates this year, and this upward movement in Wall Street has spread to stocks whose fundamentals don't back up the actual price, we will probably see a correction. I remember that last year in october, CNN was organizing a poll asking if people thought that there was going to be a crash again... and more than 50% answered yes! Maybe it's time to do another poll and see how "expectations" are doing.
Bests,
Leticia Arroyo Abad labad at onlineclub.com undergrad economics students Universidad Católica Argentina Buenos Aires, Argentina