InSook, what bugs me the most isn't Niles touting it again roughly 20% BELOW where he recommened it only 8 sessions ago...
...it's that Maria B. and her producers/editors either don't know that or consciously choose not to report that fact.
C'mon.
Some of us have a trading mentality, and as such we'll take what the markets give us and move on.
As a CNBC viewer, as an active trader, and as someone who used to be an ink-stained wretch, I find it unconscionable for Maria B./CNBC to have served up the small investor watching at home as canon fodder last Monday on the Niles upgrade to Strong Buy and then to look into the camera and report that the same guy who upped it to a Strong Buy @ 29 15/16 now thinks it's a great opportunity without making mention of that fact. That's just shoddy.
Look, Scott Randall at Soundview upped it to a short-term buy the other day and I'm not bitching about that one. It was testing it lows and it looked to be setting up for a technical bounce. Fine. Other people have a buy on it. I think Scott Nirenberski @ CS 1st Boston started it a few weeks back as a buy and I'm not bitching about him either. Why? Because the same day he made his call on MU (7/30), he started some other chip stocks. He started VLSI, NSM, and LSI at hold and damn if over the next few weeks they didn't all pre-warn. That's unbelievably good. That earns my respect.
But, having a business card that says "I am a securities analyst at an investment bank" - IMHO that is not a priori proof that respect is deserved. CNBC seems to think that is. They're wrong and they do their viewers a disservice by assuming that's the case.
Good trading,
Tom |
