Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: BSGrinder who wrote (7746)	2/13/2002 5:59:32 PM
From: t4texas	Read Replies (1) of 36161

i figured pru was just pissed, because gs and jpm got the nem merger biz back in september, 2001. if one looks at the analyst upgrades/downgrades around that time, one sees gs upgraded on september 20 and morgan upgraded on september 21. the Pru downgraded nem on september 21 to a sell just as nem made a 4 or 5 point move in the next several sessions. what a bad, bad call that was back then. then pru Upgraded nem on october 30 to hold. that was a bad call too as nem dumped down to the 18s on the merger announcement. that is the real data i have. everyone must make his own decision. i think the pru analyst has some "issues." he has downgraded, upgraded, then downgraded nem 3 times in 4 months. pru only initiated coverage on sept. 21. quite a "record." i own nem among lots of other stocks (shorts too), and since the fall of 2000 i have made about 65-80% on the nem i have owned and traded (of course i have not turned all the gains into cash yet.). i have not encountered any question of nem reserves. i am not concerned, and as i wrote a few days ago, i looked at the pru's coverage as a buy sign -- and i did buy some more.

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