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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: dennis michael patterson who wrote (34148)	11/24/1999 6:20:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

I couldn't resist. I saw your post to Ben and had to respond to get you back inthe swing but then later saw Bobby beat me to it. I was in meetings all day today and when I finally got back in my office and saw the NASDAQ and the high flyers, I literally got so ticked off I couldn't work and shut the office down early. This is nuts. You know I am a stock picker but some of these moves are out right ridiculous. How can CTXS make 3 black crows then shoot back up 12 points in one day? RFMD was my pick on my site last night but up over 5 points? Redhat up 25+? We are past trading, momentum and all the other descriptions for a nuts stock market. This is roulette (sp) now. This country was built on capitalism. It was built on a good idea being financed by people buying stock based on REAL EARNINGS potential with a realistic return on their money. HOW many hundreds of thousand of years would it be before you would get your money back on your SUNW stock from dividends, RFMD? any other stock that trades on the NASDAQ. You do know there were over 260 new lows today and declines led advances but of course none of that matters. This latest rally has been on fewer stocks than the spring rally of this year and that one on less stocks than the fall rally and that one on less than the one before that etc. AS I said, when will the market care, when we are all trading the one remaining stock that is going up. More importantly, will they "re-adjust" the indexes to only show that one stock? EDIT - I read a study last year where a guy handed one person a dollar and surrounded him with daytraders. They had to buy the dollar from him and eventually bid it up to many many times one dollar. Is the smartest guy the second to last owner or is he just lucky? Good Luck, Lee PS - Yes I am still on the Pain killers but they reduce my view of risk. When I sober up, I will get really bearish about today's move up. <ggg>