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Strategies & Market Trends : Classic TA Workplace

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To: Moominoid who wrote (5812)	6/26/2001 11:19:57 AM
From: JRI	Read Replies (2) of 209892

David- For a highly cyclical company, I'd be careful about fundamental assumptions holding a stock up....stock price often runs way ahead of a turn in fundamentals (look at semis last year)... Also, when a stock goes from 2 to 40 in less than a year, it is usually an indication of something other then the fundamentals turning, going on....some hot money, pure speculation at play....momos riding the thing...also, obviously, a safety play in unsafe times.....that money gets backed out at some point too... One thing's for sure: The fundamentals will deteriorate before you and I will ever know or be able to figure out...but the technicals will tell you whatz up....and, right now, the technicals are telling you that the stock price rise is nutso.....the higher it goes from here, the harder it will fall...

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