this explains the 'rally' in u.s, page-7

Someone, please tell me - if this is all correct, then why is it that so many posters on this site keep on spruiking stocks such as UEC, PWT, AUN, SIE (etc) and argue that they are worth anything up to 50c, 16c, $1.00 and /or 20c, each?

In other words, if the markets are being kept up by artifical means, then sure as anything much of the Australian telecoms, tech and bio-tech sectors (together with mining) are being supported by nothing except verbal vapour.

Irrational exuberance explains many activities /behaviours, especially for those who have actually sat down and read the books. But what it does not explain is short-sightedness, where it is often more convenient to attack the macro settings, and then ignore those same settings when considering individual stock prospects. In other words, not irrational exuberance, but irrational (or irreconciliable) behaviour.