MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

+0.1%

Nov 7 4:00 PM EST

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To: Techplayer who wrote (60805)	10/18/2000 12:03:02 AM
From: bobby beara	Read Replies (1) of 99985

Any sentiment other than doom and gloom out there?>>>> it's the flip side of: tech stocks only go up earnings don't matter, oil prices don't matter, rising rates don't matter, a slowing economy is bullish for tech, semiconductor cycle has been repealed, the naz will double the dow in a year, we are in a new economy/new era, tech stock valuations are subject to new valuation metrics, p/e multiples can expand infinitely because stocks are less risky than bonds. yadda yadda yadda, at the top stocks can go only one way UP UP UP, at the bottom stocks can only go one way DOWN DOWN DOWN thats the study of this manic-depressive patient which is the crowd. what something is worth or not worth is dependent on the patients state of mind at the time of the bid and the offer. all u kidz, WELCOME TO THE ASYLUM.

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