Check Point Software (CHKP) Message Board

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Technology Stocks : Check Point Software (CHKP)

CHKP 187.14

+1.9%

12:18 PM EST

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To: Frank who wrote (1818)	3/18/1998 10:18:00 PM
From: charger	Read Replies (1) of 7150

I've read your recent posts. Yes, the market is overvalued. Yes we will get a nasty correction someday. The thing you must understand is that psychology and mutual fund performance is driving the market. People don't care anymore about inflated p/e ratios. They've heard the arguments before only to watch the market grow exponentially. I would liken the current environment to a tulip mania, but until the psychology changes, stay with the trend. Greed and fear. Right now greed is in control. When those bellweathers disappoint and the market shrugs it off, there are powerful psychological forces at work. My feeling is that there will be a wave of profit taking once the quarter ends...many money managers missed out on the current rally early on and have been fueling it higher in order to catch up. Another danger sign...lots of crap is on fire. Why are internet stocks soaring? Because they don't have earnings with which to disappoint! Remember, the market is right. Regards

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