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Technology Stocks : LSI Corporation
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To: John Ritter who wrote (7567)10/30/1997 2:28:00 PM
From: uu  Read Replies (1) of 25814
 
I am really amazed the few that truly control this market (especially during such high volatility), and I really really want to know who these people are! The few influential minotiry starts a rumor, sits back and then pockets a nice profit and moves on! Remeber a couple of days ago when somehow the rumor started that INTC will be announcing a major major stock buy back program. And even CNBC took the rumors so seriously that they reported that as fact to the public! Within 5 minutes the stock went from $82 to $85 and closed at the high of the day. Only to find out after the market that INTC said it had no such plans! So the influential people (i.e. the so called big boys of the Wall Street - whoever they are) who started the rumors ended up making a nice 5 minute profit and dumped the shares the next day (and you can see this by the volume at the end of the day on Tuesday and then early Wednesday morning)! This of course followed by today's downgrade of the Stock by Alex Brown (the same guys who first graded a Strong Buy when LSI was in the high 30's and then all of a sudden started down grading LSI when it was in the low 40's-high 30's). (which incidently this goes with my always belief that a Strong Buy simply means we have a few hot shot clients who want to get out of the stock ASAP, and a Hold means just the oposite)!

Just curious Does SEC really look at everything and all the things that are going on in the market or they are busy with lots and lots of other con actions taking place in this volatile market?

Regards,

Addi Jamshidi
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