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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 5 4:00 PM EST

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To: Stephen who wrote (14070)	5/16/1999 11:20:00 AM
From: Stephen	Read Replies (2) of 99985

One comment that I would like to make with regards to the market is that whilst stocks maybe over-valued (imho only as in reality they are worth whatever anyone else will pay for them), the one aspect that disturbs me more than anything else is the extent to which the analyst community is fueling this 'irrational exhuberance'. It really is a disgrace that such a self-serving system should get to this level. There used to be a time when analysts would put forward meaningful commentary to justify any recommendation and this would usually be based upon fundamental reasoning provided by industry or company specifics. Now there seems to be recommendations provided for internuts, based purely upon PRICE expectation, lagging blue chips ... like KO & DIS ... just because they haven't kept pace with the market, even though their business situations remain tentative, value stocks ... because ...well, they are good value even if the small cap fund managers are seeing lots of redemptions ... etc, etc etc ... At the end of the day , J6P who is busy trying to earn a living, doesn't have enough time to look long & hard at things ... and the talking heads should be more accountable for the part they are playing in this (imho) 'bubble' when it bursts. Stephen

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