Google and Buy the Dip

Yestereday I provided a link to Bernie's article on Google (GOOG). In that column he showed how there appears to be an overall complacent sentiment backdrop. For further illustration of how there is little fear for disappointment, check out this article - "Internet stocks: Great expectations" - that is on CNN/Money's website...

One of the things I remember from the tech run-up in the late-1990s was how the sentiment shifted. During the early stages of rally it seemed that all I heard was to avoid the "overvalued" stocks...surely they couldn't continue...yadda, yadda, yadda..

It wasn't until you got near the peak when you saw an "acceptance" of the rally and were urged to look for entry points. And boy did you get a good entry point - if you waited a couple of years.

Perhaps this time is different, but as the old saying goes - history may not repeat, but it often rhymes....