Jim, >>> How dare you lump me with Michale Burke<<<
Poor misunderstood Jim. One minute you are making fun of someone's experience with cancer, the next you are making nicey with the misanthropes on the AMD thread, and now you are on the Intel bandwagon - for the next 15 minutes, maybe.
You are not at all like the other Jim on TSC. Jim Kramer can change his mind every 15 minutes - but he does it with with so much charm that you hardly notice that has changed his mind once again. He now thinks Mark Edelstone is the best thing since sliced bread. It was only yesterday, that he would get his advice from Tom Kurlak.
fnews.yahoo.com
Nov 11, 1998
Wrong! Rear Echelon Revelations: Playing Great D with Intel
By James J. Cramer
How will the bears spin Intel (Nasdaq:INTC - news) this time?
Did they borrow from the first quarter to make these numbers?
Nah, that won't wash. That's what they said about the last upside surprise.
Maybe they were just filling up the pipeline with product after a bad spring? Nope again, that was used against them in the previous quarter. Maybe this isn't a big deal, because they didn't say earnings, they just said revenues. Again, more malarkey. That was still one more "reason" the bears used to keep you out of Intel the last time.
Here is where a great analyst can make you money. Right after Intel reported its previous upside surprise, when the stock was at 83, it slipped back to 81 as the bears threw all of that garbage at us. I was a bit shaken because I come from the school that says good news is good news. But Morgan Stanley Dean Witter's Mark Edelstone, who is a student of Intel upside surprises, had at his fingertips all of the various upside and downside surprise announcements and what happened to Intel in the intervening months after. He divined that Intel only preannounces when the Street is way off base either way and the strength or weakness always continues into the adjacent quarter. He got you through the bear gauntlet.
That was why I wrote the piece I did yesterday after I heard Edelstone went out with his bullish call. (It is also why full-service brokers can make you a bundle if you listen to the right people.) Edelstone gamed this the way a good football offense surveys the D and shifts its play-calling at the line accordingly. Edelstone had seen this bear play before. He knew that the defense was lining up for blitz, so he let them all come in, then ran a screen play for 20 points!
Look, the market is like a great defense. When you think it is going to line up blitz, it comes with some sort of zone that you have never seen before. When you think you have a man open, he's double covered. Which is why you need some guys in your huddle who have seen it all and know how to take advantage when the bears overstep their game plan. Edelstone is one of those play-callers. He'd be on the All-Madden team if we had one. If he wasn't going into yesterday's action, he was sure on that team at the end of the day.
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