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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: BelowTheCrowd who wrote (14693)	4/28/2005 6:36:00 PM
From: The Ox	Read Replies (1) \| Respond to of 25522

The real issue is that fundamentals do not matter when the market is being ruled by the world's largest traders and not by supply/demand issues. Demand has increased, but it's increased by 2% at the most year over year. Yet we have a 40% increase in prices while we've had a 5% increase in product storage. The metrics don't add up but they don't matter when the market is artificially inflated. There are plenty of reasons why the market is priced high but even adding them all up doesn't justify the excessively high price of crude. I believe there's at least a $15 premium or, to put it another way, a 30% premium built in to the current price.