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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: Rich Goldsmith who wrote (4158)	11/26/1997 12:46:00 PM
From: ahhaha	Respond to of 74651

No one ever knows what stock price is accounting for. Nothing known to MER is new. Recent price weakness may be accounting for margin pressures. Who cares? Doesn't have much to do with future prices. The future is a guess. I guess INTC is going straight up with MER clients doing lots of buying at 85. Then their guru will say, "You gotta own this one". Korea, DRAM, MU CEO, all irrelevent. If you and I know it, it was accounted for in past price action. Notice I didn't use the term "discounting". Don't use that term. That is a term used by fools and pundits to impress. You've heard it. The market went down/up because it was discounting x. First they have to explain price action, then they look around for a culprit. If they can't tie it to a news event, they trot out Granville or Prechter or The Fool and blame it on them. That's the x. You'll never know why the market is doing what it is doing. Especially watch out for big shots saying, "that's not in the market", as if they knew what has been or not been accounted. The accounting or discounting if you wish, is a posteriori. Of no value. You gotta take a risk and guess about the future. Guess about the possibility of the confluence of logical and fortuitous events. It isn't impossible and very easy over significantly long periods of time. Every dog has it's day. Would you prefer to be short or long INTC over the next 10 years? I rest my case.