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Technology Stocks : Advanced Micro Devices - Moderated (AMD)
AMD 238.70-2.2%3:30 PM EST
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To: Jim McMannis who wrote (4375)8/10/2000 6:30:19 PM
From: TechTrader42Read Replies (1) of 275872
 
"The simple fact that AMD could give up half of it's entire runup from 16 to 97 with seemingly great fundamentals going forward should suggest that there is certainly something more at work here than simple 'fundamentals'."

Good point, Jim. The market's driven by all sorts of things, not just fundamentals. And in part, it's traders and analysts looking at charts, using TA. TA predictions can indeed become self-fulfilling prophecies for this reason. Everyone and his bloomin' analyst has his eye on the 200 SMA. And in part, it's irrationality -- or, to put it another way, market sentiment. And a healthy dose of FA -- not healthy enough lately, it seems, given the high P/E's.

Takes all kinds of tools to make money in the market -- not just FA. In any case, many who crow about FA don't do it. FA to them is looking at notes on SI and convincing themselves in a group hug that they got into a good stock, no matter how low it goes.
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