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

To: Crimson Ghost who wrote (40979)	2/22/2000 4:56:00 PM
From: NucTrader	Read Replies (1) \| Respond to of 99985

I don't really know whether this pertains, but on CNBC a week or so ago, they pointed out a similar period in the late 1800s. The "new economy" then was railroads. At first there were only 2 railroad stocks traded on the NYSE. Within a decade or so 40% of the entire capitalization of the stock market was in railroads. It may not all be "bubble" here with the rotation to the NAZ. People are buying those players they perceive to best represent the "new economy" (right or wrong). Better to "pay up" for a ride rather than miss the boat altogether? To stop this rotation to the NAZ in a significant way, one needs to see multiple business failures in the "new economy" sectors which invalidates them as viable business concerns (we certainly aren't there... yet)OR a brutal and panicky correction which makes them back into the "value" cave to lick their wounds. All this IMHO, but in the past 1 1/2 years I have been much more brutalized by my attempts to buy value than by any of my tech purchases.