Here is what I cannot comprehend. . . .
The market is essentially the Brokerage Houses VS. Retail Buyers [that's us]. In other words, the brokerage houses are playing against us. . .and are therefore our enemies.
Abby Joseph Cohen is paid by Goldman Sachs.
Ralph Accompora is paid by Prudential Securities.
Henry Blodgett is paid by DLJ.
They work for the brokerage houses. . . pawns. . . that is all. . . when they speak, it is likely because their brokerage houses have taken large positions according to what they are about to say. . .though the brokerage houses are not required to state their positions. . . . . YET!
So Goldman Sachs no doubt played the Abby statement like a fiddle. . . as they always do. Same with other anal-ysts. . .they speak FOR the brokerages. . . generally with timing that hurts the retail investors. . . .like they did today.
So here is my dilemna. . .
WHY ON EARTH WOULD ANY INDIVIDUAL INVESTOR FOLLOW THESE PEOPLE?
Those listening to the teaching of analysts that work for brokerage houses are playing straight into the hands of the enemy!! And that is silliness.
[stepping up on soapbox again]
The analysis we have on these message boards has far better track records than the analysts of the large brokerage houses . . . that much we know. . . .also better than any newspaper or magazine. . . . I can't wait until I am able to draw direct comparisons. . . make their inadequacies obvious to the world.
Bottom line. . .WE are the voice of the individual investors. . . we that post on these boards are the new analysts . . without conflict of interest. . . posting the WHY to our analysis. . . something we rarely get from brokerage anal-ysts and strategists.
We no longer NEED the anal-ysts and stra-duh-gists that work for brokerage houses. . . as individual investors, we should no longer pay them any mind.
Today's early morning tanking was pure manipulation. . . nothing more. . .funny how my quote service was down from the point she made her statement until 30 minutes into the trading day. . . [this usually happens on important selloff days] . . .what followed was the herd effect by retail investors. . .bailing on late day weakness. . . and that is just plain pitiful, IMO.
What I believe was the motivating factor is this. . . .the brokerages saw that there were no significant earnings warnings this week. . .and simply made a play to buy the best tech stocks on-the-cheap at our expense. That is all.
Remember, they still get reports days BEFORE we do. . .so they know WHICH stocks will report better than expected earnings. . . thus they know which ones to buy on days like this.
Tank the markets, then load up with INTC, AOL, RMBS, CSCO, IBM, YHOO, HWP, etc. at bargain prices knowing that in just a few days the April earnings season begins. . . and is expected to be quite hot.
Certain media personalities have a history of promoting the Goldman-Sachs plays. . . today was no exception.
So I blame the greedy brokerages. . . I blame the cooperative media. . .but I mostly blame the retail investors for not thumbing their nose at this play. We need to be more sensitive to such manipulative plays as what happened today. . .so that we can recognize them for what they are. . .and recognize them FASTER than such plots can even be executed.
And we need to promote our own analysts ABOVE those of the brokerages. . . with our OWN plays against the brokerages.
I may be the only individual investor that feels this way. . .but I must call it as I see it. . . and that is the way I see it.
[getting back down off soapbox]
William, you play the game using index futures and the like. . .and I know that you don't mind their games, because you can cash in on them by moving quickly . . . but I don't care to play along . . . I prefer change. . . and a leveling of the playing field. . .which is slowly and surely coming.. . and that is fine.
There are many ways to win in these markets. . .but each of them takes extreme cunning.
Rande Is |
