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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.10

0.0%

Jan 23 4:00 PM EST

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To: NucTrader who wrote (41415)	2/26/2000 12:52:00 PM
From: Stephen	Read Replies (1) of 99985

NucTrader - re PHCM ... I was referring to the stock price movement not the company. My point, though badly stated, was that 'new era' stocks often don't react in a rational way to 'bad news'. It wasn't really a comment on the merits of the company or its valuation. I see this as just another sign that momentum is the only thing that counts. As for buying the stock ... its not for me at this price. Cell phones will give way to other 'hot' areas soon enough .... then maybe it will be a buying opportunity ... but only if the money thats available targets that area. At the end of the day ... there's only so much money to invest and too many stocks to buy. The liquidity picture is changing and could get much worse ... but I state the obvious ... Stephen

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