Regardless of Schaeffer's recent record, I think what he, and many others on SI pointed out is true. Many comments out there this week about the total absurdity of those upgrades. It was obvious manipulation to save someone's butt on expiration day, and surprised many pros who were sure the market was going to take a hit. Then one idiot put's out a complete BS call at 5 am - before everyone is even awake, to cover whoever's butt needed the covering. Obviously Merrill <g>
But I'm glad to see the financial press and newsletter writers have picked up on this so the truth about the corruption still going on is known to many more. Not that anything will be done about it. But until people ignore these absurd calls, and don't buy into them in response, nothing will change.
cbs.marketwatch.com
Message 17355753
The nasdaq would have broken support yesterday and been in big trouble if the futures opened where they were about 1 am...It makes me wonder if the guy got a late night call from Peter Fisher (I think that's the guys name, the head of the PPT <g>).
"Yea, we're using you guys for this absurd penguin call, after all you already toasted your reputation this week so what the hell" <G>
And with that, the nasdaq was again saved from the brink of the cliff, totally putting off the inevitable...
The options holders were totally screwed and it's obvious, even after all the publicity about the corruption of Wall Street Analysts, nothing is going to change.
note: I had no position in MSFT at all, and was stopped out of my futures short right after the early am call. Too bad I didn't believe it enough to go long at 6 am, I was in complete disbelief and just reshorted the futures at the open. <g>
I guess I'm becoming more cynical by the day <gggg> |
