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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 680.44

+0.6%

Dec 19 4:00 PM EST

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To: Johnny Canuck who wrote (32839)	6/15/2001 5:44:00 PM
From: The Ox	Read Replies (1) of 69126

OT - joke Intl Rectifier (IRF) 37.35 -17.90: In morning note, Robert W. Baird downgrades to MARKET PERFORM from STRONG BUY and lowers price target to $60 from $100 following company's pre-announcement yesterday; believes his firm has not only finished selling all their shares at higher levels but also went short while they had their strong buy in place. The firm would now like to accumulate more stock, therefore we have downgraded the stock. IRF shares were under severe pricing pressure due to the massive short that the firm had recently put in place but the shares are now buoyed by the short covering. Now that the stock is in a sharp sell-off, the firm is a buyer of the shares...... End joke.

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