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Strategies & Market Trends : Sharck Soup
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To: Jim Spitz who wrote (8595)1/30/2001 1:58:10 PM
From: velociraptor_  Read Replies (1) of 37746
 
Yes, Jim...that is what I am saying. ...brokers do not have your best interest in mind and I wouldn't trust them with anything. When they issue upgrades, they are already in and want higher prices to unload. One of Wallstreet's dirty little secrets. Just think about all those upgrades and those ridiculous price targets that were put out. With declining earnings and trouble on the economic horizon, do you really think these are attainable? The FED will need to lower rates by at least 75bp to keep the market going and probably by 100bp to get the Nasdaq over 3050. Aside from the last day or so, volume has been explosive and yet the Nasdaq has only gained a few hundred points. A year ago, this kind of volume would have sent the Nasdaq up twice as much....distribution in my book.
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