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

To: dvdw© who wrote (17042)	4/28/2003 6:06:29 PM
From: t2	Respond to of 19219

Why EBAY with a PE where it is is able to outperform the market is because MORE folks value EBAY as a Holding than don't, without respect to PE I see the fact that EBAY is doing well as a reason to buy stocks in general. In a way, it gives support to the general market. The stocks with much lower PEs look like bargains compared to EBAY. Supply and Demand is the key. This market has been going up for the past few months while the stock market has seen outflows and bonds getting the inflows. That could set the stage for some of the bond market to rotate into stocks over a longer period of time....and as a result add fuel to what appears to be a bull market in stocks. If by chance the bond market has a hit a peak, we could be in the early stages of a big drop or at the very least no longer seeing interest rate decrease, then stocks can have a wild move up this year...stocks become a much more attractive investment relative to bonds ..and it seems to me that only deflation on the horizon can make bonds a good choice...and I highly doubt we get that. I checked short interest and it increased in April on the NYSE and Nasdaq. Vix, Vxn dropping; sentiment indicators bearish (AAII);poor fundamentals; so many calling a top based upon technicals also. However, something is different this time around. All this should have resulted in a big drop already but that is not happening. The market should have a big run up this year..Dow9000 should be quite easy..and Dow 10k may be done by year end.