"Further proving that the Stock Market is almost entirely disconnected from the underlying companies."
Exactly. I've been wondering for some time just what IS stock price based on? Since it's not based on the soundness of the company (the company doesn't even need to have a P/E!) it seems entirely based on perceived potential of the company and whatever news makes the traders nervous or ecstatic that day.
Therefore, it seems to me you're better off avoiding fundamentals and instead watching the news and reading sociology books. Oh yeah, and developing ways to do high volume trading one millionth of a second faster than you competitor.