>>>>Well, the real reason why we give so much importance to what the analysts say is that we suspect they know something that we don't!<<<<<<
What they know is that they are going to make some massive trades for their managed accounts and it would not look good for their actions to create a movement in a direction opposite to the position their "mouthpiece" has taken publicly. So the morning huddle has them all conspiring to see that the "timing" of their mouthpiece's "new" revelations will rhyme with the market's reaction to their activities. Lo and behold, it appears that the analyst is prescient and everbody jumps out their own a**es to grovel and kiss some feet. Well in due time enough people both within and without the Wall Street clique will be able to see the pattern of the shills and before long they (the shills) will be the followers instead of the leaders.
OT(read at your own risk)
The thing that bothers me more than the small time manipulation of stock prices is the larceny that our own government is about to commit on every person in the world, even and especially those who have never owned a share of stock nor even been aware of the possibilities! I am speaking, of course, af the proposed bailout of the BIG time gamblers who have lost their shirts and the shirts of their countrymen through their losing currency transactions. Somehow it is lost in the panick that these BIGTIME gamblers went into their positions with the thought in mind that they were gonna kick some a** and take no prisoners. Well, you can bet that the fellows on the other side of the trade DID JUST EXACTLY THAT, AND ARE NOW SITTING ON SOME VERY HANDSOME PROFITS INDEED. (minus, of course, the commissions that found their way into some very BIG bonus checks).
I am not attempting a "Holier than thou" posture when I say, in all seriousness, when I entered the field of play I understood that I may or may not be on the winning side and I ACCEPTED IT!! Yet we have these losers (and I use that term to include every derogatory inference you can draw from it) crying that they want their money back and if the big bad Bankers don't give it back why all the children are going to go hungry and their will be a CRISIS!!
Now that is probably very sadly true but do you think the bankers and our government are going to make the winners give back the money? Get REAL!! They will do just as they did when the savings and loan "industry" lost their shirts. They will "borrow" it from the taxpayer ---many of whom will have no idea of what is happening to them---and Clinton or Gore or some equally despicable character will become the hero of the hour. Watch the news: these people are making just those noises already.
Fortunately a few people are saying that we should not go to the rescue. They are few and sound as a voice in the wilderness. But I encourage every one to listen closely---hear the facts--consider the ramifications; and if you think the government should be there to bail every one out of the predicament into which their own folly plunges them, then please, every one, call someone on the BRE-X shareholder list and give them the good news! Otherwise, use that fancy computer of yours to flood the personal e-mail of your elected representative.
If you are not inclined to spend that much time on it, just paste a copy of this post into your message. And yes, you can use my name---not that it would carry any weight; but it would give me great satisfaction if you did.
Frank Humphreys |
