Hi, so I spent tonight valuing the NDX or the NASDAQ100. I gathered the closing prices and the shares outstanding for each company. Multiplied them all together and added them up for the value of the index. If I could do this in real time, which apparently is a subscription costing $10,000 per year, it might yield a true risk arb system. But anyway. I decided to gather the target prices from Standard and Poors research. If every one of their predictions comes true, then the NDX is valued, per the S&P, 24.42% below fair value currently. That'd put the NDX at 2193.42 in the next twelve months. Does anyone think this might be a tad overbullish? One of the disgusting things I was finding with the S&P's research is that it seemed bullish in nearly every case for these NASDAQ companies. I'm wondering if anyone else has ever traded based on S&P research. I think it's a tad tainted given their loss of credibility following the credit market debacle of late. Thoughts about the methodology?