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Technology Stocks : CheckFree (CKFR)

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To: TLindt who wrote (1699)	2/17/1998 4:37:00 PM
From: David H. Zimmer	Read Replies (2) of 8545

TLindt: I've been doing this business, from both the brokerage side as well as the legal side for more than twenty years. More often than not, when a company is downgraded like CKFR was today, there are sometimes other reasons behind the move -- (1) the analyst missed the move and had no other alternative but to push the stock lower -- in other words -- look for a good open tomorrow or (2) they had reason to generate business. I have watched a number of the "big boys" do this for years, Salomon Brothers on ICIX at $36, a day later -- $32 -- two weeks later $40, a year later $65 and Merrill on INTL -- picked the bottom twice with lowered recommendations. CKFR is a buy at this level -- other analysts will converge and push the stock back up and B.A.R.S. will have to get back on board but you will never know that they did -- they probably will not announce. Too many years -- too many repeated patterns -- I hope they were able to make a few 1/8 trading the stock today -- and a few bucks in commissions -- but if you look real close, you'll find them being the buyers at the close and into tomorrow. Nice work if you can get it. Zimmer

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