Chris, Heck, betting against chronic losers is not TA, that is fundamental. -g- I know that folks always ask me what I am betting on at the race track. If I say #3, I hear shouts of "take the 3 horse out of your exotic bets."
The Japanese is a mercantile, not a capitalist economy. So, if the Japanese are buying, they do so with the mindset of large corporations, even if they are individuals. And large corporations have always bought high and sold low, hence all the mergers and stock buyback scams going on today. And for the same reason. They buy when they have a currency. In Japan it is the yen, sort of, and in the US it is the corporations' bloated stock prices they use to overpay for other bloated stocks.
I don't have much impact on taking down Compaq. If so, it would have fallen much sooner and much further than it did, as the problems were obvious to anyone paying attention. The set of those paying attention, of course, did not include the subset of most of the investing public. -g- I am going to wait awhile to dump hard on this bowwow again. They are flim-flamming their eps reports pretty good and they have folks thinking that absolute disaster was "better than expected." ("Yes, The Titanic is sinking, but, damn it, some great booze is being given away free at the bar." -g-_ So, my guess is the Great Unwashed may carry it a bit higher or at least support its current grotesque overvaluation before it falls to its inevitable fair value somewhere in the pre-teen level.
BTW, I have no idea how to rouse a heard. Herds, maybe. -g-
MB |
