You've got a decent summer rally under way with good breadth in the marketplace and, mostly, that's attributable to the fact that fear over what the Fed could do to the economy is abating and that helps all sectors,

This is a pause, a period of minor consolidation after a rally. I'd be more concerned if the breadth declined, but it's still pretty good.

Some of them might not have had a decent photo ever.

A P/E is meaningless by itself. A P/E has to look at the price you're paying for earnings but you have to compare it relative to something. Companies with low P/E's also tend to be the companies that have the lowest prospects for growth.

A P/E is meaningless by itself. A P/E has to look at the price you're paying for earnings but you have to compare it relative to something, ... Companies with low P/E's also tend to be the companies that have the lowest prospects for growth.

What's going to drive stock gains going forward is the earnings, and the current crop of earnings may have already been accounted for. I'm looking for the earnings in the second quarter and particularly the second half of the year to drive stocks higher.