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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 226.19-1.8%Dec 12 9:30 AM EST
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To: 10K a day who wrote (148039)9/25/2002 8:47:16 PM
From: Victor Lazlo  Read Replies (1) of 164684
 
" Just as Internet analysts like the disgraced Henry Blodget convinced us a new economic order meant dot-com stocks would soar forever skyward, rabid bears like David Tice have convinced us a new world order means all stocks are headed into a bottomless crevasse.

What makes their self-promotion despicable is that they've exploited our fear in furthering their own selfish ends, just as the tech bulls exploited our greed.

... The cult leaders

These prophets of doom are the ever-committed bears like mutual fund manager Tice and Elliott Wave theorist Robert Precter, the Chicken Littles of the world who saw the sky falling during the greatest bull market in history.

If you listened to their ilk over the last 20 years, and followed them into their wilderness, you'd have ended up no better than the Donner party, feeding on fellow misdirected trailblazers for sustenance. You'd certainly be far worse off than if you shifted from blue chips to tech stocks on the eve of the market's collapse.

These cult leaders use sophisticated formulas to advance their aims, calling it "technical analysis." But as Yeske notes: "Their technical analysis is voodoo."

These are the consummate fear mongers. Like Hannibal Lechter, in their own screenplay called Silence of the Bulls, they love to feed on innocent investors' livers, with a side of fava beans and a nice Chianti.
cbs.marketwatch.com
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