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Technology Stocks : America On-Line: will it survive ...?
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To: Yikes who wrote (5234)10/24/1997 4:14:00 PM
From: John Kratus   of 13594
 
I've never heard of Hermes, either. But I wouldn't be surprised to see more sell recommendations, now that one investment house has broken the ice.

A few months ago, Micron Technology was at 60, when an obscure analyst downgraded the stock due to concerns about semi pricing. (These concerns had been there all along. No news was related to the sudden concern.) The stock price started to drift down. The next day Tom Kurlak, the semi analyst at Merrill and the guy who touted Micron all the way up from the mid-30s to 60, joined in and voiced concerns of his own. (Once again, there was no new news, just a herd instinct.) Micron suddenly fell 30%, and Kurlak was hailed as a genius who called the turn in the stock! Micron is now near 30, halved in a couple of months.

Once WS smells blood, look out below!
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