Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: Jenna who wrote (62916)	9/24/1999 12:22:00 AM
From: Paul McWhinnie	Read Replies (1) of 120523

Jenna, I've been lurking here for a while. Great post! Old-school vs. new-school is a recurring theme when thinking about trading. Dow = industrial age (slowing growth). Nasdaq = information / bio-tech age (accelerating growth). I really wish these would detach from each other. In a free market what controls do you implement to keep a company / stock from becoming "overvalued"? IMO, stocks are always correctly valued based on supply and demand. Picture a live show with the entire audience clapping vigorously at the end of a great performance. Um, sorry people there are too many of you clapping. Some of you will have to stop (sell). Is YHOO overvalued @ $50, 150, 500 share? I can't understand why the market is so fixated on market cap. If the supply is great enough to vault YHOO to $500 (because it's popular as hell) then that's its correct valuation. I've seen so many good stocks fail to rise, bad stocks (companies) rise too sharply. My trading approach comes down to this - buy if you think it's going up (for _whatever_ reason). Ignore market cap (Hello MS). Case in point - I might buy NZRO because it's HOT, first, others believe it will go up. Not because the company might have a decent revenue stream one day that I can evaluate based on metrics, P/E, etc. Tomorrow will present us with opportunities to make some money. Every day does. Sorry if I'm rambling. Needed to post. Great board BTW. Paul

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