Pfizer (PFE) shares have been bleeding for the last several years but 2009 has been especially harsh so far.

Will this be the year that Pfizer actually becomes “cheap” and a genuinely value stock?

A poster named chrt13sezz on the Yahoo Investor Boards posted the P/Es of Pfizer since 1997:

23.5 low, 46.8 high in 1997
35.4 low, 64.2 high in 1998
36.2 low, 57.5 high in 1999
29.4 low, 48.3 high in 2000
26.0 low, 35.7 high in 2001
16.4 low, 27.8 high in 2002
15.9 low, 21.1 high in 2003
11.1 low, 18.3 high in 2004
10.0 low, 14.5 high in 2005
10.8 low, 13.9 high in 2006
10.2 low, 12.7 high in 2007
05.9 low, 10.0 high in 2008
05.9 low, 08.9 high in 2009

It’s earnings season and with that come out all the pundits ahead of the number to either be:

1. Doom and gloom

OR

2. Rah-rah

On the Potash (POT) message board on Yahoo Finance, the tone seems to be trending towards doom and gloom. There is lots of talk of bubbles and that Ag is in one of them. Poster Antartica wrote:

“What is it going to take to get people to admit the top is in on the ag stocks. Has anyone looked at the price of corn lately? It was a bubble. Everyone was buying the same names at once. What don’t you all get? “

In another post, rather amusingly titled “this is my bubble”:

“I will pet it…i will care for it..i will coddle it…i will read every seeking alpha article over and over…my bubble is different”

Some posters appear to be certain the stock will drop anywhere from “40 dollars” to “50″ as soon as earnings come in- regardless of the earnings.

During earnings season- be careful on the chatrooms. There’s always someone with their own agenda.

Stay tuned for Potash - which reports on Thursday, July 24.

Depression is the rule of the day on the Yahoo Message Board for First Solar. First Solar soared in 2007 but 2008 has been brutal for shareholders.

In a post called “It’s only Just Begun” an investor laments:

Sooner or later the music stops. No momentum, no rise.

It would take years and years for this stock to catch up with its price.

Repeat of Dot Com days. Didn’t you guys learn anything in the 90’s?

The stock has fallen from a peak of $283 to $181 in only a few weeks. The stock was already expensive, trading with a P/E over 100.

It’s hard for true believers when high fliers go down day after day. Yet that is what is happening to several of the glamour stocks right now.

Take Apple.

Investors don’t know what to do. For now, they are just “depressed and scared.” As is evidenced by this poster on the Yahoo Finance Message Boards:

I bet it all on aapl…thought it was a sure thing…i used all my margin account to average down to 173…i’m worried that we’ve dropped so low…even an earnings bounce might fall short..i need some advice from some saavy longs…I already know what shorts think.

Apple is down about 20% since it hit an all-time high just under three weeks ago. It’s fallen from $202 to $159 a share.

Hold on for the ride.