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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: lurqer who wrote (16011)	2/2/2003 1:40:01 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 19219

when you read articles like that... it is obvious this is a generalist who knows nothing about the companies or industries he is profiling. He picks ebay because it is a "what you see is what you get" earnings type of company. Not like enterprise software, where you have a residual drag on maintenance earnings from any recessionary period and the only real way to know what things look like going forward is to look at new licenses. He ignores this or doesn't understand it, or thinks stocks shouldn't trade "in advance" of recovering earnings. Not that this is a bad thing per se. It kindof falls along the same lines as the "average S&P P/E" that softechie posts all over the place. But it represents the sentiment of a lot of investors and maybe money managers who don't want to look into earnings anomalies of certain sectors. If we stay in this mode, where individual stocks aren't profiled in any way by specific analysts, and you get massive selling by the bears on whatever earnings were last year, then software is a short.