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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 668.73

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Nov 24 4:00 PM EST

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To: Jon Stept who wrote (14909)	5/25/1999 5:59:00 PM
From: Vitas	Read Replies (1) of 99985

Jon, I'm not quite sure what you are referring to; my point is that we just had a speculative bubble price peak in the internet stocks in April. See, when you buy a stock that has a 500 or 2000 or more p/e ratio, that is the equivalent of the surgeon general telling you flat out right up front: you are overpaying for this stock. In 1992, like as in seven years ago, we had the biotech speculative bubble price peak. See the Genzyme chart of what happened to the PRICE of a good company from '92 - '94. Message 8818971 Imagine what happened to the not so good ones. Vitas

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