Stock prices are 100% about sentiment. Chart theory is 100% about sentiment - ie hurd mentality. Good companies can languish with a P/E of 5 for decades. Crap companies can go to the moon, and all spots in between. There are good companies and good stocks, and there sometimes the same but not always.Why didn't I? I drank too much naysayer's kool-aid?
The problem of course if figuring out the difference between what the public is saying and what the big money guys are buying.