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

To: Haim R. Branisteanu who wrote (35416)	12/19/1999 6:06:00 AM
From: Berney	Read Replies (2) \| Respond to of 99985

Haim, being an FA Dude at heart, it is hard for me to see P/S ratios being compared as the norm, or, for that matter, a MSFT, going up some 20+% in a week; but, isn't that why we are here in the first place? The point being that we all know, as we were trained by Bill, that the TA rules. Actually, I'm going to beat the SnP by about 2x, which I'll accept, considering that, my research shows that 88% of the professionals cannot accomplish this feat. However, all of us on this medium should have recognized what we were witnessing, and that does piss me off! Berney

To: Haim R. Branisteanu who wrote (35416)	12/19/1999 9:15:00 AM
From: Zog	Read Replies (3) \| Respond to of 99985

OTHaim, your point about daytraders is important. I think the "powers that be" have placed so much "blame" on daytraders for the speculation in the market, but this has never made sense to me. By definition, a daytrader will not hold a position overnight (usually), so the buying pressure from daytraders will be canceled by their selling -a zero sum game. That cannot explain 40+% daily price increases. This Ponzi scheme will end someday, and while most of people will be wiped out, there will still be some very rich people who sold at the top - guess who they will be! A gut feeling forecast [sorry LG!) is that we will follow the pattern of the Nikkei and peak on Dec. 31. Whatever happens at Y2K, we start going down. I hope it is a slow deflation, as a more money can be made on the short side that way. PS. I've enjoyed reading your thoughts for years! Michael

To: Haim R. Branisteanu who wrote (35416)	12/19/1999 9:28:00 AM
From: Les H	Respond to of 99985

The other recent phenomena that 'professionals' are pointing at is the internet chat rooms and message boards. Now, you have the ability to move or manipulate stocks at everyone's hands. There are also the widely used programs that tell people to buy the momentum RS stocks on market-on-open orders.

To: Haim R. Branisteanu who wrote (35416)	12/19/1999 10:22:00 AM
From: Crimson Ghost	Read Replies (1) \| Respond to of 99985

Haim: Your 5:29 post was right on the money. But I would add that the power of the bubblemisters is far from infinite. They can keep playing this game only as long as the currency and bond markets cooperate. Not much longer IMHO. Also does anybody think it is a coincidence that the incredible arrogance of the financial elite as reflected in the stock market bubble comes at the same time as the hubris of our nation on the world stage has reached unheard of dimensions? The old adage that "power corrupts and absolute power corrupts absolutely" has never been more vividly demonstrated than in America today.

To: Haim R. Branisteanu who wrote (35416)	12/19/1999 8:13:00 PM
From: Dwight E. Karlsen	Read Replies (2) \| Respond to of 99985

Haim, IMO you are mistaken to place NOK in the same group as AMZN & YHOO, since you went on to state that "..as there are no earnings.." NOK earnings: After-Tax Income (ttm) $2.39B That's after tax, and corp taxes are much higher in Finland than in the USA. NOK is not an internet stock at all, as their primary businesses are cell phones, and also a very big chunk comes from setting up cellular broadcast stations, for which they supply both the hardware and software. And quote.yahoo.com lists NOK's 12 month forward P/E as 74, which is historically high, but doesn't hold a candle to the fundamental valuations of YHOO. AMZN, RHAT, EXDS indeed have no earnings, and I don't think those three companies have ever had earnings. So if you want to include the likes of NOK in your group, it would be fair to note that MSFT is also in that group (overvalued by historical measures).