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Strategies & Market Trends : MDA - Market Direction Analysis

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Jan 9 4:00 PM EST

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To: d_trader_99 who wrote (47138)	4/18/2000 12:39:00 PM
From: jbe	Read Replies (1) of 99985

You are right! The old "get rich quick/pie in the sky" psychology has come roaring back, at least for today. Let's all forget about valuation again. A few weeks ago, I ran a screen for no-earnings, cash-burning companies. Out of a total of 100 companies I turned up, only 4 were in an uptrend. The rest were all former high-flyers that had fallen to or close to their 52-week lows. Shorting any one of those stocks, it seemed, would be like shooting fish in a barrel. Well, I ran the list by Yahoo today, to find out how those loser stocks are performing. All but 5 are up; most are up much more than the general market, quite a few have seen a 30% or more price rise (including one I was shorting, boo-hoo!). If you think the "gorillas" are overpriced, what about all these concept stocks? Interesting to see whether their resurgence will contine.

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