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Technology Stocks : SYQUEST
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To: Arrow Hd. who wrote (5814)3/9/1998 6:13:00 PM
From: Michael Coley  Read Replies (2) of 7685
 
RE: Broker's Advised to Avoid Stocks.

For what it's worth, when I first bought IOM I was still with a full service broker and they had the same restrictions. Although my broker was able to sell me some, the main office had recommendations to avoid the stock. I don't know if they still do or not. I'm no longer in contact with my former broker.

Another way to look at it is this: If the brokerage firm doesn't currently have a buy rating on the stock, it's in their best interest not to have their clients buying the stock. Much better (from their point of view) to have them buying "recommended stocks" pushing the prices even higher. Then, when they issue a buy on a stock and a sell (or hold) on a currently recommended stock, there are more people to buy. If they had already bought, there would be less buying pressure after the recommendation.

- Michael Coley
- wwol.com
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