S&P 500 PE average

avg: 16.36 (1880 to now).

1930: 30+
2000: 40+
2008: 26
Now: around 20
2009 March when bottom: 12
1970 to 1980: around 10

Monitor this closely can avoid bubble market

the P/E is 18.5 when the economy is coming out of a recession. Mr.Siegel
now is the trading at 14.5 times forecast 2010 profits.
that imply anothe 20% stock market gain.

now company margin is 7%, historically is 6%.