Phillip Roth, chief technical analyst at Morgan Stanley had this to say on 'thestreet.com' today:
>>>"And what of the Internet stocks, whose astonishing advance has investors quaking even as they rejoice at their gains (as TheStreet.com noted in a story today)? Despite their new-fangled pedigree, Roth said, they're an old story.
"In a bull market there's almost always a conceptual group, a group that doesn't make any sense based on fundamentals but is trading on future potential," he said. "They can't disappoint, because they don't have any earnings to miss. In a bear market they'll get annihilated, because the earnings will start to matter." Until then, he said, Net stocks are a play only for the most disciplined and careful of investors.<<<"