MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: SGJ who wrote (17041)	4/28/2003 12:00:35 PM
From: dvdw©	Read Replies (2) of 19219

At least in the universe of companies I track this is a bogus rationalization! The bubble period for many small caps lasted from late Nov 99 through June/July 00. Not a moment longer, so the runs happened in a very short time frame From base to bubble. Its pure manipulation to award value excess or otherwise based on juicing or obfuscating Supply and demand. I dont know you so I am not attacking you personally, but the rationalization you just made is pure and simple BS. Why EBAY with a PE where it is is able to outperform the market is because MORE folks value EBAY as a Holding than dont, without respect to PE. PE is often just another way to draw attention pro or con to a trade thats been put on. In the quiet of your own analysis you may wish to use PE as the prevailing metric in decision making, while others will weight that factor against all other know factors. Please dont use PE as a guide to rationalize a 4 Billion 400 million share short imbalance, if that gross short number was given the same weight and focus as many others, the situation would change. My case is that the market does not want the consumers to vote on Supply and demand because that metric shows Investor Intent and points out manipulation better than anything else. All Obfuscations are based on how an issue is framed, the carpenters controlling the trade have taken out a license by which the prevailing framework is designed and implemented.The implementation part of the game suggests that at this time, Shorts have dug a deep hole for themselves and the only way they can get out of that hole is to ignore their own problem while rationalizing reasons for what they have already done. A Caveat; "My comments are based on specific knowledge of specific companies, not the market in general." I see the trees in the forest and identify them for what they are within the context of the bigger system they exist within.

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