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Strategies & Market Trends : Intraday Updates, Analysis & Strategies for Daytraders

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To: Dave Gore who wrote (408)	3/16/2001 10:31:29 AM
From: Lane Hall-Witt	Read Replies (1) of 589

Question of the Day - Why are people still listening to analysts when they downgrade or upgrade stocks? Dave -- LOL!!! I have wondered this for so long, and it just totally beats the hell out of me. All market gimmicks are eventually supposed to go away -- you know, buying IPOs 18 days after they start trading to score on the initiation of coverage -- but this analyst scam has some serious legs. These people are geniuses -- marketing geniuses, not business geniuses. I don't understand why the Street keeps falling for their racket; but, then again, there are a lot of things I don't understand. <GGG> It's too easy for the shorts at this point. There's just no buying interest at all -- zippo. We may get a VIX rally or some options-related short-covering later in the day, but the action looks pretty ugly right now. What's amazing is that this is coming right before a Fed meeting where we know they'll cut by at least 50 points. I don't expect more than 50, but you'd think the hot money would at least try to pump things up a little ahead of that.

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