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Politics : Formerly About Applied Materials
AMAT 336.87+1.3%Jan 28 3:59 PM EST
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To: Gottfried who wrote (35662)7/8/2000 10:27:06 AM
From: Kirk ©  Read Replies (1) of 70976
 
RE: the B of A targets are silly for a new coverage. If I took them seriously I'd ask "why bother taking the risk". So I'm asking myself what motivated BofA to give new buy recs with such limited upside?

Perhaps they want to have room for upgrades?

The way I read it, they were silly to be so late to the party in the first place. The low targets might give them wiggle room to issue upgrades and not look so silly as a "johny come lately".

I can hear the conversation.

Boss: "Hey, semiconductor Cap something or the other is hot! Who do we have covering it?"

Employee: "Er, nobody sir. You took us off that group in 98 when it looked to be in the toilet and we were going back to horse and buggy days. You put the analyst on Wal*Mart adn Dell Computer."

Boss: "Humph... how have those stocks done since then?"

Employee: "They've done OK, but not anywhere as good as AMAT and LRCX" as this chart shows: chart.bigcharts.com

Boss: "Well, we better get someone on those stocks so we don't look silly."

Employee: "Right sir. I'll assign someone, but we ALREADY look silly if we call the top"

Boss: "Well, then make the targets sure hits and we can upgrade often and drop it like a hot cake if the market sours so we don't get caught with our pants down selling at the bottom like we did in the fall of 1998!"

Employee: "Yes sir."
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My concern, when the clueless start to arrive at the party (characterised by their late arrival) then I start to worry more about a top. To me... it says it is time to worry.
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