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

To: Hawkmoon who wrote (40751)	2/19/2000 12:32:00 PM
From: Michael Watkins	Respond to of 99985

Ron My real challenge with IT stock valuations is a gut feel, no real knowledge, but a gut feel that the combined capitalization of these stocks far exceeds the annual potential benefit realizable by the entire world (if the entire world could somehow simeltaneously implement these solutions, which they can't) - by many many factors. At any rate, it doesn't matter. Valuation is based on emotion; we can't affect emotion; so our choices are to participate or sit on the sidelines until the emotional climate suits our own temperment. Personally I prefer to participate since I feel comfortable with my ability to detect changes in emotion and therefore the trend. But it doesn't mean that I agree with the climate... And I fully enjoy participating on the down side too. ;)