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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 687.01

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Dec 30 4:00 PM EST

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To: SecularBull who wrote (79087)	6/20/2001 3:11:58 PM
From: t2	Read Replies (1) of 99985

Merrill stays behind the analysis curve Great story on ML analysis. Their recent negative commentary seems like a desperate attempt to keep the tech stocks down. That is the only reason I get for their repetitive calls on the tech stocks. IMHO, they fear that their credibility will be lost in the current investment era (putting behind the old bull market as old news). Stocks going up is their nightmare scenario since they are bearish accross so many tech sectors---PC, semiconductor, servers. They are even less bullish on IBM and MSFT. Merrill Lynch has put too much on the line with their bearish call. I would expect that once they upgrade one stock (for example MSFT), it will result in a parade of upgrades from the firm. Other firms are able to get away with some bearishness mixed in with bullishness in technology in general. The only way Merrill wins is if tech stocks go nowhere for the entire year...and I doubt that happens in a period when energy prices may be on the decline. (Larry Kudlow made a good case for bearishness on energy prices on CNBC)

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