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Non-Tech : Charles Schwab (SCH) -- A tech-stock profile?
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To: yard_man who wrote (359)4/3/1999 7:16:00 PM
From: Peter Goss   of 1390
 
I think the reversal will come when the great "news" on earnings and growth is released - then recognized and valued. The problem is that the herd in SCH or any stock that is overpriced are such firm believers that they have stopped evaluating anything except stock splits. DELL is a good example of this - SCH will come down when the professionals see the "news" of the next quarter or so and sell into it. The crowd will still buy the story for a while, until buying the dips has left them with an average price of about $70 and the stock is at $40. Again, see the Dell cult for examples.

I was way early in trying to define the top in SCH. The power of no analysis is one that is difficult to fight in this market. Those who do analyze are crushed while the mob is rewarded for their devotion. I do think that is in the process of changing. We will see.

good investing,

Peter
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