re: C'mon Jim, that's not totally true about momentum buyers. Fundamentals are still in play to some extent.
Long,
IMO,
I think you want the fundamentals to be what is driving the stock.
I think it is just momentum money chacing performance.
Look at it this way,
What is the only think that could stop DELL's advance ?
Any fundamental news that is short of perfections, or is not in the script that is expected to play out will hammer the stock.
Is there any fundamental anything that would Goose the stock?
No because the stock at this point can't really be goosed. It is on a roll.
On CNBC this AM, while I was eating my cheereios, Louie Navalier made the comment that money was running to the Internet stocks as safe havens, and sources of performance.
When you sell BA and run to AMZN, MSPG, or YHOO, you know something is wrong with the market. You also know that anystocks still running up are only doing so due to money flows.
And when you look at where the money is coming from, well it would be hard to get me to believe that money in BA or CA is tagged with the same risk paramaters as money that is in YHOO or AMZN.
This relates to DELL in that money is going from large good companies into another large good company, the difference between the two is that one's stock is going up and the other is going down.
That is what momentum concepts make happen.
Jim
Sorry, I started to ramble. |
