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Technology Stocks : America On-Line: will it survive ...?

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To: Dick Ross who wrote (1013)1/10/1997 11:44:00 PM
From: Todd Daniels   of 13594
 
>Question # 2: Why would anyone short a stock that Merrill, Morgan, >Goldman,Robertson Stephens, Lehman Brothers, Cowan and Salomon are >all pounding the table on?

For the same reason one might consider shorting any stock whose
main cheerleaders are its underwriters and others lusting after
slice of that business -- especially when doing secondaries depends
upon the stock price being higher than it is.

*** How many of the above lowered their ratings (much less put out
a sell) anywhere from last May's $71 to October's $25 ??? Zero.
Case closed (so to speak).
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