Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Yorikke who wrote (3521)	3/22/2001 1:13:12 AM
From: Yorikke	Read Replies (1) \| Respond to of 33421

ot ....so to speak... I was talking with a very smart lady tonight, a PhD. economist, all the 'rights' to go with it. We were talking about the market and she began telling me about how she had picked up some good stock today. I asked her what her criteria was and she said "Well it had gone down so much. You know its XXX, its a good company." My response was ''You're kidding me. You bought because it has gone down. You know the P/E?" "No. But you know it felt right. I mean I think you can understand a company and just know when the price feels right." Uhhh, well that may have worked last year, but if you don't know the P/E, the news on the stock? Have you looked at the balance sheet recently, the income statement?. If not, feeling' right' is kind of just out there ...don't you think? Well yeah, but its XXX. I mean it was a bargain. I'm sure this a good price. This woman is the most intelligent person I attended school with. She could think 'off the cuff' economic theory better than many of the professors could formulate it in their lectures. Maybe she is right. But it doesn't explain the beating she as taken in the market recently. It doesn't explain this 'it feels right' mood to what should be a very exacting task. It doesn't explain the great sadness I feel. I'm afraid we have a lot further to drop on this 'falling' nightmare. And I'm afraid some people are not going wake up in the same financial condition they zoned out in. My friend is just starting to be numb. Still throwing money at 'feel good' thoughts. Not yet reeling from being snake bit. Somewhere over the rainbow.......is Kansas.