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Technology Stocks : CTSL California Technology Stock Letter

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To: CYBERKEN who wrote (7)	4/19/1997 12:17:00 AM
From: John Grandy	of 12

the biggest problems murphy presently faces are: 1. he has grown too powerful and well-known 2. he attempts to cover too many stocks and is involved in too many other ventures in regards to 1. the pros are on to murphy in a big way. example: pro shorts who know a sinking-ship dive in on a murphy recommend monday-pop like vultures on ware cats, soaking up juice they could never suck-up otherwise. great recent examples are scio and synx. the other problem i believe is that much of his subscriber base is passive and slow to react. so to realistically recommend a stock he must provide a "wide" buy-limit. investors who operate in non-"internet time" wouldnt be too happy if they missed every opportunity to get in. most of his picks really should only be bought on nasty dips. you buy a whole bunch of them near his buy limits on margin as i did in my early days and you're setting yourself up for disaster. in regards to 2. in my opinion there is no possible way to keep track of 100 stocks (or whatever) with the tech markets as volatile as they have become (due to increasing number of sophisticated day traders, and many of the fund managers usin' the techs for short-term juice to beat the indexes or their competition) sure, he can expand the operation but good analyst/traders are hard to come by and ultimately trading is an individual game. and with the funds and managed money there is always the nagging feeling that maybe he bought in for his larger $ clients and then put out the recommend. i'm making no accusations and this most probably isnt true. but this is the age-old problem wall street has always been criticized for; and a lot of street houses definitely DO help themselves and their well heeled buddies at the little guy's expense.

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