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Technology Stocks : Data Dimensions
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To: LANDRUSH who wrote (1421)5/20/1997 7:05:00 PM
From: Eric Klein   of 4571
 
How can you have a logical discussion about DDIM? This is a stock that is selling at a P/E of 250, for christsake!

Possibly some people really believe that this stock will earn it's market capitalization in some reasonable timeframe, but most of the longs are just playing the momentum. They believe in the greater fool theory. In homage to that theory, they hype the stock in the hope that the GF will believe their hype (and perhaps he will).

The shorts know that the stock is overvalued, and sooner or later it will come crashing down, but they are terrified that it will rise too high before the fall and they'll be squeezed to death. They therefore try to inject their pessimism so that the GF will wake up. They forget that the GF never thinks he's the GF.

Nobody is going to convince a member of the other camp using logic. The most that they can hope for is to gain reassurance from their own camp members to hold on.
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