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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (1019)	12/9/1998 8:51:00 AM
From: Monty Lenard	Read Replies (1) \| Respond to of 99985

"year but the street definitely seems to be valueing them on the rose tinted everything will get much better theme" Well the problem with my program is that it does not know how to calculate forward looking PE's so I just have to settle on what the fact are. (If you are old enough to remember Joe Friday) :-)) And, some of them are so high I am afraid I may not be around when they finally justify the PE's they carry even based on the crystal ball guys expectations. Monty

To: Lee Lichterman III who wrote (1019)	12/9/1998 8:56:00 AM
From: Haim R. Branisteanu	Respond to of 99985

L3, the momentum players are in those stocks. From their point of view the more overbought a stock get the more they buy. I general those efforts are in concert between several entities and rely on the fact that certain players are shorting the stock and they just bust it higher. Unfortunate the SEC can do little about it. This strategy worked fine for several years regardless of P/E. wen the music stops the picture is very ugly IOM, CA, CD and OXHP comes to my mind. As outrageous those things are inoring those sharp moves up will deny you some times nice profits. It happens that the participation of day traders only make those moves even more extreme. This is a result of computing power and continuos scanning of stocks traded. BWDIK Haim BWDIK Haim