When the bull was in full roar how many stocks were fundamentally correctly priced? If over priced then why? As the bear keeps clawing back any bounces, sentiment has gone the other way, well and truely.
I doubt that the world is quite as enthusiastic for a bit of arab flogging as it was with the gulf war.
Fundamentals are based upon fictitious values which are determined by sentiment. The value of something is only what someone is prepared to pay. When the sentiment is strong enough the bull will regain accendancy. I don't know that blowing the cr@p out of Iraq or Korea is enough to turn sentiment around.
Of course the above is my opinion only and what do I know. I thought NCP would be $14.00 by now.
