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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Bruce Denney who wrote (7298)3/11/2000 9:29:00 PM
From: Tai Jin  Read Replies (1) of 18137
 
I've been wondering just how the Nasdaq will stop going up the way it's going. I hear about money moving from old economy stocks into new economy stocks. Obviously, people are after greater returns without regard to company fundamentals or realistic future potential. That is, many investors have become momentum investors/traders and speculators.

So as long as money moves from the old to the new and as new money flows into the market from loans and savings, we will have ever higher stock prices in the popular sectors. It's a simple matter of supply and demand. I just read an article in the paper about how the PE for the Nasdaq stocks are so high now. Well, the PE is irrelevant when supply continues to outstrip demand.

We won't have a crash unless there is widespread panic. If there is panic in only one sector then the money is just likely to flow to another sector. It seems unlikely that money will be pulled out of the market unless something disastrous happens (asteroid on collision course with earth?).

...tai
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