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

To: dennis michael patterson who wrote (44397)	3/30/2000 12:30:00 PM
From: bobby beara	Read Replies (4) \| Respond to of 99985

>>>He comments were totally vacuous-- and he admits he is "an emerging markets guy." <<< Mobius is no dummy - comments were NOT vacuous, just look at my below comments -g- Hey man, it's the new economy man, buy anything with net, com, con, link, and PAGE in it -g- 207.61.23.98 It don't matter if it every makes money man, this is the new ekonomy man, new valuation metrics have exempted earnings man. The rally got sold into as easily as it happened, dennis you see at some point valuations do matter and the disparity between a stock like TRW which makes gallium arsenide (sp?) chips that is selling near a single digit p/e and a company like RFMD which makes the same chips is selling at an infinite p/e is being recognized by investors. The bifurcated market has turned this gap into what was a large crack a year ago into a giant chasm. Just at the point when the old economy was being written off and everybody is convinced that stocks like RFMD can double again in a year and bring the nasdaq to 10,000 and overtake the dow is about the biggest contrary indicator around. and i know this is the top, because i never really got short on this downleg and the sucker is not giving me a decent rally to do so -g- b