Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Pancho Villa who wrote (4385)	3/7/1998 8:22:00 PM
From: Kip518	Read Replies (1) of 18691

Pancho, Here's Dr. Bart Dilitto's current take on the market (http://www.vectorvest.com) The Greater Fools. Momentum players are like foxes chasing stock prices higher and higher. Short-sellers are like hounds hunting down the weaklings. Wily as they are, momentum players fanatically drive prices of stocks with little or no earnings to astronomical heights. Witness Amazon.Com with a P/E ratio of 999, and recently bashed by Barron's. Hungry short-sellers, sensing an easy kill, emotionally short overvalued stocks with rising prices. Until the Barron's article appeared, a lot of hounds were getting slaughtered with three million shares of Amazon.Com short. Now the tables may have turned. The foxes, who think they're so smart, forsake the virtue of value. The hounds, who think their day will come, miss the magic of timing. Each believes the others are The Greater Fools. Maybe so. Kip

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