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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Techplayer who wrote (35426)	5/11/2000 9:24:00 AM
From: Monty Lenard	Read Replies (1) \| Respond to of 77397

Techplayer, fundamentals did not matter on the way up and it sure won't on the way down. It has to do with MENTAL attitude of participants. I would recommend that you consider 3 things: 1) Analysts are nothing more than company employees any longer. You may not believe that but it is FACT. Look at how many downgrades vs upgrades they hand out. I think the %age is under 10% downgrades. Saw the number just the other day and it was shocking even to me and I knew it was bad. 2) Meeting estimates that are GUIDED mean NOTHING. NOTHING!!!!! 3) Everyone would be wise to do their own DD and not depend on analysts that have their own agenda and I can tell you that their agenda is not to make you money. If it was, they would not have recommended these stocks only a few days prior to the decline. Do you really think the analysts and top company execs will EVER tell you that the company is overvalued? Not until they sell theirs first. Did M. Dell or Steve Case tell all their shareholders the reason they were selling huge positions in their companies was that they felt the price was a tad high and they were taking some profits? The only company exec that stated his co was overvalued as well as other tech stocks was Balmer with MSFT about 6 mths or so ago and the bulls on SI wanted him fired. Don't believe me?.....Go to the DELL thread and read some of the post when he made that statement on the media. Totally amazing!!! The analysts are paid by the brokerage houses. Their sole purpose is to make money for the brokerage houses. The brokerage houses pay their salaries. If they downgrade a company that company will place them on their "undesirable list" and they miss out on all the advance guidance, hype, etc these companies provide. Now as to crashing. I am not sure what defines a crash but 35% in a few weeks meets my definition of a crash. The crash has occurred! The question now is how long and how low the bear will grind. Maybe a successful retest even today but we will see. You do not do this kind of damage to PERSPECTIVE and turn on a dime. This time is different. I could cite you enough examples that it would fill a book but it would do no good. It would only mean anything to those willing to listen and those people were out of this long ago. Monty