Irrational exuberance? Yes, but the market's perception of the growth market to follow was on target even though market conditions let the pps surge beyond current values.

Had you been able to identify the MP3 markets and cell phone market growth in 1999 correctly, you would have seen a real growth market to be had, not just an imagined one.

So somewhere between expectations and reality is where we will end up but the market will decide that for itself and will gyrate in the process as it tries to get a handle on the opportunity. Our job is to buy low and sell high during the process.

The fact that EDIG was given valuations at that level, and the fact that today, EDIG is again flirting with tagging that market indicates much higher levels for this stock, imo.