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Technology Stocks : All About Sun Microsystems
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To: oldcrow who wrote (12901)12/23/1998 6:51:00 PM
From: alan james geik  Read Replies (4) of 64865
 
I agree that the downgrade should be disregarded. The research firm had a price target and simply found the current valuation "fair" hence "hold" is their call.
Some of us think it will do very well in 1999. I think if one looks back over the last few months there will be numerous downgrades of many stocks that the price blew right past. I note with interest that the volume today is less than the 30 day average which has been inching up over the past few months.... i.e. there is no rush for the door. The announcement was made at 1pm ...plenty of time for people to bail.
In fact just coincidentally I bought some SUNW today for my IRA account with the intention of writing calls in 1999.
By the way... I don't always agree with the conspiratorial theory of Wall Street buy/sell/hold recommendations. I don't think that most analyists and their companies are that short sighted (although I usually will entertain almost any conspiratorial theory). Wouldn't they want to make solid market calls? I mean their reputation and all that.
...and would anyone at this dipshit company think that they can affect the market? Of course if some of the readers on this board think that this is a naive view they just may be right. I am not meaning to demean them just because their opinion differs from mine... I'm only pointing that these are pretty superficial downgrades from a small company. They may be right...SUNW may be dead money in the short term.. I don't agree
JMHO HAPPY HOLIDAYS
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