Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 238.12

+3.1%

12:40 PM EST

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To: Wildstar who wrote (25802)	10/28/1998 11:56:00 AM
From: Robert O	Read Replies (1) of 70976

Good points. I guess the notion is that size matters. In other words different people will interpret the same information differently, but the more sophisticated investors (therefore more dollars behind them?) will have more "votes" driving the price to its most "accurate" level since they have interpreted the information best or at least most rationally. This dance continues as "smart" money exhausts itself and little players drive price in an irrational direction given all known info. until smart money cannot resist temptation to reassert its dominance. Of course sufficient liquidity is required to keep the game afloat. After all it's just a voting machine right? If TA could accurately predict these cycles, viz. if the cycles are predictable, there might be gold up in them thar hills (and valleys). If inside info. is surreptitiously leaked to those in power--and money = power-- that may only lend credence to this scenario replaying itself out again and again. RO

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