Paul,
Some interesting comments on INTC & Kurlak.
fabmktbabe.com
The Fabulous Market Babe
Market Mood 9/11/98
Clinton and Kurlak
Where do I begin?
Let's start with yesterday and then go forward. After all, if we do it that way, it only gets better.
Yesterday, was a prime example, as has been the case so many times before, of the worst case scenario being viewed as the only scenario.
However shocking that may be.
But if you choose to play the sentiment game and make your bets based on the the picture that was painted on Thursday as a foregone conclusion, I suggest you consider the following....
Whatever action is taken, it will based upon public opinion. Which is why the documents are being released so swiftly, over the 'net no less.
Otherwise known as not wanting to ##@@!! with the people that put the powers that be in their positions, in the first place.
As a side note, if there is one point that was actually amusing in all of this, it has to be the highly visible torment experienced by traditional sources of media with the revelation that they will not be the initial source of distribution for the all-important documents.
To say the dismay was palpable is the understatement of the year. If only, with the words "released over the i n t e r n e t" reverberating in one of the most painful tones that I have heard in quite some time.
To which I can only say....
Wake up and get used to it. Individuals will continue to embrace and advocate receiving news and information over the 'net, without having it first "filtered" by traditional media.
In other words, best of luck in the future of holding onto that talking head position at the local network.
But back to the next topic at hand.
That is, as we all know by now, two very important pieces of information in the tech world were released after the close yesterday in the semiconductor arena.
INTC preannouncing a positive quarter and NSM announcing it believed it had seen the bottom in its business.
First NSM.
Certainly not a bellwether by any means, but important only for the fact that, given this company is pretty much at the bottom of the food chain in the group, with those on the bottom turning around, just think about what those at the top are beginning to do.
Just check out INTC.
So am I surprised by the announcement yesterday?
Quite frankly, not at all.
And that would be because...
Unlike the generally accepted "wisdom", I have never believed that over a short period of time how a stock is reacting is "telling us something."
In other words, the recent drop from roughly $90 - $75 obviously had nothing to do with INTC's business, but a lot to do with stock falling out of very weak hands in a market that has been ruled by irrationality.
Which can only lead into.....
Tommy Kurlak!
Otherwise known as a prime example of an influential and "seasoned" Wall Street analyst being so wrapped around one particular view that it directly influences his ability to do his job.
Which, unfortunately, takes those that have diligently followed him in the past, along for the ride.
Actually, that's too kind.
Let's look at the facts.
Not only is INTC going to have a stellar quarter and is on the upswing, but the bottom of the barrel (otherwise known as NSM) has declared that it has seen the bottom in its business as well.
So where oh where have you been Tommy boy, given your job is to not only understand and highlight the ACTUAL trends in the group, but also to pick those stocks (correctly) that have the most potential at any particular point in time???
In other words...
Jaded views = jilted investors. Something that, believe it or not, is not exactly a selling point by Tommy's employer, Merrill Lynch.
Enjoy your day, and your fabulous weekend!
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<<ggg>>
Barry |
