Everytime a "specialist" is asked whether people should be getting out of stocks right now, they answer dogmatically NO! Its not good advice in my opinion.
Most "specialists" are in some way related to the brokerage industry, or "fund guys", not actual traders, that's pretty much why. Just like asking a Real Estate agent if it's a good time to buy (or a good time to sell for that matter, LOL). Don
On Bloomberg TV they had a chart of the S&P PE ratio. The PE was last at this level in 1997. For the Dow stocks were last this cheap in 1995.
I think the little bloomberg tv you can connect too on your desktop is the best. Much better than cnbc.
I've noticed that it runs a it behind on the PC but we miss out on a lot of the commercials as well...my brother has the satellite, I use the webcast. Don