Gazprom, OGZPY.PK, is back to a P/E of 4. Europe must be planning to return to the dark ages, using coal to heat houses and tallow candles for light.
INTC is back to a P/E of 9, 8 after the cash is backed out. I guess the world doesn't use computers any more; I didn't get the memo.
AAPL at $363, with the cash backed out, is rolling on a P/E of 13, with year over year earnings growth of 80%. Go look at those numbers again - I did just now, with a calculator, because they're frankly unbelievable. If you can find me any other company who put in 80% y-o-y earnings growth with a P/E of 13 and no debt, I'll buy their shares too. AAPL's just entered a whole new market, CHL's 600 million wireless subscribers; they're growing at an 80% year over year rate; and they are priced with a P/E of 13 when the average S+P historic valuation of large and mid cap stocks, all comers, is closer to 16. Those stocks grow at about 8% on average, year over year.
Selling stocks is one thing; getting dumb is another. If all you care about is price movement, well, look out below. If, on the other hand, you'd like to buy some stocks at a discount, this is a pretty neat time in the history of the world to do just that.