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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Tommaso who wrote (73820)9/19/2000 6:00:07 PM
From: isopatch  Read Replies (3) of 95453
 
By the time it's clear fundamentals have changed the move is over.

That's why Don Wollanchuc(sp?) once said that investors who rely on fundamental analysis don't understand the stock market. Although that may be a bit extreme, it's true that the market usually discounts fundamental news well in advance of public awareness of the information.

So over a period of many years and exposure to a lot of people smarter and more experienced in reading the market than me, I gradually came to rely more and more on reading the tape and sentiment.

Yes fundamentals are important, and I use them to some extent. But most of what is common knowledge now was being priced the stocks via the most recent Intermediate rally since the beginning of August.

Isopatch
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