it happens time and time again.
wallstreet brokerage houses upgrade at $ 150, and downgrade at $ 20.
look at the HIFN chart, there was nothing but "strong buys" at $ 140, then something ugly happened, and the stock fell to $ 40, AFTER THE FACT, the downgrades came, from the same people who had strong buys at $ 140.
do you need analysts for that?
same thing with NEON, a strong buy for NEON was coming out every day while it was trading at $ 75, then the stock missed its quarter and crashed to $ 15, again, AFTER THE FACT, the SAME PEOPLE who had the strong buys downgraded it.
take IBM, at $ 150 when Gerstner talked about the "fireflies before the storm" everybody was saying "it's a double from here", then suddenly as it fell to $ 90, now those same analysts don't want it now.
take Ralph Acampora, that dickface, with DOW 11,300 he was "predicting" a DOW 12,500 by yearend, then as the DOW fell to 10,000 he got scared and "predicted" a possible DOW 9000 or even 8000.
my mother can make better predictions than that. |
