Greg,
Here's a prediction for you. The houses are in a frenzy right now to cut the underbelly of the retail patzer from a hole to I brow. I had a good laugh when a Morgan man came on CNBC last week and bashed (you guessed it) Morgan Bank. Talk about chutzpah. These sell side anal-ists are shameless. They have so many downgrades flying that one can only assume they intend to put the full court press on and force the capitulation that seemingly can't be organized by more transparent means. But they do intend to take this market down.
So here's the prediction. Just for example, they'll scoop up AVNX at 9, and CORV at 5, BRCM about 18. Then they'll put the shares into their treasury on lockdown, not wanting to add any selling pressure, relieving that which they created, and with a little help from their friends at the FRB, they'll magically "save" the equity markets. Offering an opportunity by the end of 2002, in the heat of recovery to dump all these 'jewels' back on the market at triple digit figures, with, taa daa, the sell side anal-ists gushing about the tremendous opportunities newly awakening in the tech sector, and get your Red HOTz, come and get 'em while they're HOT, and you (the fool retail patzer) are hot to trot and recoup your losses from the recession. Hohoho, and a Merry Christmas we'll have in 2002, and one hell of a bonus season in Feb, 2003. As Michael Milken used to put it: I'm highly confident.
Greg, the big problem with my predictions in the past is that I simply haven't been cynical enough. <g>
Best, Ray :) |
