Well, lets see... downgrade by Solomon, Smith Barney this morning. 150,000 share trade crossed by Solomon, Smith Barney this morning. I don't suppose they would have recommended to their customers to sell before their downgrade, so I'm sure this must have been a sell. Yeah, of course it was.
I was recently called a number of times by an SB broker who said that their "analysis" had identified a potential takeover candidate. He asked if I'd be willing to throw $56,000 at the idea since it would be a "good" investment even if it wasn't a takeover. I looked into the company and decided that SB's analysis was much more subtle than mine because it didn't look as good as many companies in its sector. I passed on the idea because I didn't agree it would be a good investment. Interestingly, the company was bought out the next week. I'm sure it was coincidence. I'm also sure that they told a large customer to sell 150,000 shares this morning, not yesterday, before their downgrade.
Mike |
