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To: DownSouth who wrote (1463)	7/15/1998 5:20:00 PM
From: mauser96	Read Replies (1) \| Respond to of 3424

Your definition is basically correct, but there are always multiple motivations for people to buy a stock and you have no way of knowing how many bought it for any particular reason. There are no "momentum stocks", only stocks held by varying unknown numbers of momentum type investors. I use the chart as a weak tool to help me identify behavior of market participants, and stocks with a lot of momentum participants tend to have similar patterns. I maight add that the whole concept of underlying value is just as fuzzy as everthing else in the stock market. Value, like beauty, is in the eye of the beholder. I can tell you from sad experience that a bear market completely alters perceptions of value.