Stock market bubble: Are we gonna party like it's 1999?

03-27-2011 • The Political Commentator

Is the stock market in yet another bubble formation? Bubble formation? That would imply dizzying heights and froth. It would suggest frenzied price action and stocks with little revenue (if any) and no earnings trading at huge multiples of sales or multiples of some other contrived numbers. There would be stock analysts who on a daily basis were falling over each other to reiterate or initiate coverage on stocks with buy recommendations and newly raised price targets. Numbers that could not be justified but that investors and traders were more than happy to believe in. Analysts, some of whom were the rock stars of the day. I was a trader back in the 1996-2000 NASDQ market when the daily range of the stocks like Yahoo and Ebay and others that no longer even exist could be 40 points or more. Then the next day they would do it all over again. It was a tech bubble that had a very unhappy ending. It was a market that in the past had bailed traders out and where buying dips had nev