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Strategies & Market Trends : Trend Setters and Range Riders
MSFT 483.65-0.8%Dec 31 3:59 PM EST
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To: ChrisJP who wrote (12907)2/27/2002 9:10:47 PM
From: Susan G  Read Replies (3) of 26752
 
Here's another news item that contributed to the sudden selloff, along with consumer confidence and Greenie's cautiousness. I also heard the Georgia and Iraq rumors were rampant on the Trading floor today. It seems lately that the market can take a rumor or a little negative news without getting hit too badly, but like that day last week, when 3 or 4 rumors and bad news items hit at once, it just cracks.

I can see how this would certainly affect the SOX, which is so important to the strength of the nasdaq...

Goldman Drops Coverage On Chip Stocks As Analyst Quits

27 Feb 15:10

By Karen Talley Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--In a rare move for an investment firm, Goldman
Sach has dropped coverage of most of the semiconductor stocks it
follows. The discontinuation, effective immediately, comes as one of
the firm's semiconductor analysts, Terry Ragsdale, has resigned from
the firm.

A Goldman spokesman said the decision was made to drop coverage of
Ragsdale's 13 stocks. The spokesman declined comment on when coverage
would resume and who might replace Ragsdale, who is expected to leave
within a week.

Ragsdale could not be reached for comment. He joined Goldman a year
ago from JP Morgan.

(MORE) DOW JONES NEWS 02-27-02 03:10 PM
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