Bill, Not having read the article, I don't think they are referring to the small and microcaps, rather it is the YHOO, SEEK, LCOS, XCIT, CGMC, OMKT, ONSL, AOL, CSCO, and the like, that the hedgers et al are trying to guess the tops.
So far they have been a tad unsuccessful. Once either investor psychology turns negative or the companies start posting earnings so that models can be run will the topping out begin. Remember the Gambling stocks back in the early 80's and more recently the Biotechs? Each novel sector has its' "15 minutes" of fame and then attention is turned elsewhere.
I still think we're in the infancy of the internet 'fad' let's enjoy it while it lasts.
Best, |
