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Technology Stocks : Dell Technologies Inc.

DELL 129.98

-6.2%

Dec 12 9:30 AM EST

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To: John Koligman who wrote (162828)	11/20/2000 10:35:53 AM
From: D.J.Smyth	Read Replies (1) of 176387

john. what is the quick and dirty definition of a bear market? innumerable analysts downgrades? we've got a rash of downgrades today on nearly everything but oil - and oil remains at an all time high. the analysts appear to be downgrading themselves out of a job. they continue to give upgrades on oil service stocks. soundview and others were downgrading oil service stocks when oil was trading at around $14 per barrell...two reasons given were that (a) low oil price was sustainable, and (b) low price of oil would do lasting, irrepairable harm to oil stocks. yet, now we have oil service companies, many of which continue to operate in the red whose stock prices have rebounded 100%. so although soundview was correct about "irrepairable damage" economically, they were not correct about the "irrepairable damage" to the stock prices their 'upgrade' 'downgrade' theologies continue to operate on a 60% success ratio; that is 10% better than flipping a coin

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