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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion
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To: paul e thomas who wrote (12056)6/24/1998 8:10:00 PM
From: paul e thomas  Read Replies (2) of 13949
 
THE GREAT DEBATE

In what seems like eons ago the Mad Monk used to titilate many of us with prognistications that a day would come when a crowd psychology conscious of the impending consequences of Y2K would move stock prices well beyond rational expectations.We were told to ignore fundamentals but to look for strong volume on up days as a precurser.I have been a devotee of a very different school of investing believing that if you find a company with a very strong competitive position,invest in it because Fundamentals do matter.Along the way I also began to believe that historical chart patterns are rather good predictors of future price action.Todays price action by IMRS has caused me to question the adequacy of my approach as IMRS broke above the Bollinger band today even on the close.There was no new press releases to explain todays mid day price action.This strongly suggests that some new force may be at work driving IMRS prices. Some have speculated that it is end of quarter dressing up of mutual fund portfolios.I have followed on a daily basis the press clippings from de Jaeger and Gary North. Both show an intensification of Media interest and concern.
The internet stocks have resumed their upward growth. I believe there is a chance the Mutual Funds that bailed out of IMRS because of risk aversion may come back because of risk aversion that they perceive in many sectors because of the Asian crisis.IF they move back the crowd psychology espoused
by MM may leave my investing theories in the dust.
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