How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 496.92

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Nov 7 9:30 AM EST

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To: t2 who wrote (29822)	9/22/1999 8:41:00 PM
From: djia101362	Read Replies (4) of 74651

t2, i agree with you 100%. i think what many analysts/investors refuse to realize is that the dynamics of today's stock market is completely different from the stock market we had 10 and 20 years ago. but these analysts/investors continue to compare today's market using historical analysis which i think is all but useless in today's market. today's market is a liquidity driven market. the supply/demand equation has got to be at least 10 times greater on the demand side than the markets of even just 10 years ago. i know this is a very simplified example but when i go to the post office and here the postal clerks talking to each other about what there stocks did that day, i know this is definitely not the same market we had just 10 years ago. literally, every tom, dick, and harry is investing in the stock market these days. i think the most useless t/a indicator now days is the a/d line. for some strange reason, analysts believe that the market is not healthy when we don't have a convincingly positive a/d line. but my question to all these analysts is, why should crappy companies the are losing money be going up?? doesn't it stand to reason that if you only have 500 very profitable companies that everyone would want to INVEST in the stocks of these 500 companies and these 500 companies only? sure daytraders don't care weather compaines make money or not so they will invest in the companines losing money. all a day trader wants is stock that moves, doesn't matter whether it's up or down. but your true investors wants a good company that is making money and showing good growth and that is why we have the market we do today. the breadth of the market is so narrow because we've got so many vaporware companies that won't be smelling a profit in our life time yet analysts think these vaporware companies must go up along with the genuinely profitable ones. if you ask me, i wouldn't want my money w/ a fund manager who invested in vaporware companies just because he thought is was healthy for the overall stock market.

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