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Technology Stocks : IMRS racking up y2k contracts.
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To: John Carson who wrote (2440)4/29/1998 12:28:00 AM
From: P. Ramamoorthy  Read Replies (1) of 3162
 
John - Market psychology changes. Accordingly, price action may seem irrational. There is always a reason that may not be obvious. In February and earlier, investors were true believers in y2k. Every time a contract was announced, the price responded (Re.: The title of this thread speaks for it!). At that time, some (including me) were worried about life after year 2000. Sanan's statement in Feb addressed that issue. Over the last few months, more people have accepted that y2k is a problem and invested in the opportunity (IBD articles on SYNT, etc.)namely, for the y2k earnings explosion. This new crowd is disappointed now. Hence a correction is likely to continue. I attempt to read the psychology and interpret the event. It may or may not be right, but it offers another view, FWIW. As Mad Monk would say, it's like reading tea leaves, without regard to fundamentals or technical data. Ram
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