This trading style is definately playing a large role in creating the degree and amount of bubbles in asset classes, it`s occurrence leads to the abundance of mispriced assets and underpriced risk. Look at all these bubbles, not healthy for financial markets. 1) Nasdaq 5000 2) Real Estate 3) Private Equity deals 2006-first 5 months 2007. 4) Credit Derivitaves Market 5) Crox 6) Wheat 7) Uranium 8) Fertilizer----folks it is horse droppings 9) AMD 10) Rice 11) NG 12) Oil 13) Steel 14) GM---ran that dog from 19 to 36 in 2007 Nobody can adequately price any asset these days b/c far too many SHEEP TREND TRADERS IN THE MARKET----NOBODY THINKS ANYMORE--they run these things up, play musical chairs, and all run like hell for the exits at the same time!!!