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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year -- Ignore unavailable to you. Want to Upgrade?

To: Satyr who wrote (1730)	8/1/1998 10:28:00 PM
From: LLCoolG	Read Replies (1) \| Respond to of 4509

Satyr, Don't call me a "desperate" long--it makes you look like a simpleton. And the market does determine what is and is not overvalued, but it is based more on momentum than fundamentals. That is where I agree that this started in April, and I will not question your opinion that short term that PSFT may not move beyond the 35-40 range. All I pointed out is that the PE is lower than the growth rate, and is not all that high at this point. Clearly, a trailing PE of 65 is much, much lower than the 150+ this stock carried for quite a long time. And clearly, a trailing PE in a technology stock with a growth rate above 50% is not excessive in any way, shape, or form. Momentum is a different beast from fundamentals. Remember, you can't fight the tape, but over time, fundamentals usually play out. Regards, G