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Technology Stocks : Broadcom (BRCM) -- Ignore unavailable to you. Want to Upgrade?

To: bvinnieb who wrote (4670)	11/19/2000 1:55:51 PM
From: Bob Kim	Read Replies (2) \| Respond to of 6531

Vinnie, Most broker/dealers have some restriction on what trading they allow on a stock following a ratings change. Customers are not restricted, but employees typically are for a limited period of time. For example, ML employees can't do personal trades in a stock for 24 hours following a ratings change. The real problem is with the ratings systems and price targets. The media give them too much weight especially in light of the fact that both things are often determined on some sort of whim. Back in July, CNBC didn't question ML about their pounding the table call on BRCM in the $260s when the ML price target at the time was $205. It was raised to $300 the next day. No one in the media questioned ML about making ICGE one of their Top 10 tech picks at $170 when their price target was $62.50. I don't see how you can justify recommending purchase of a stock when your price target suggests it is going down. The reality is that many ML analysts just follow the stock price and set up ratings and price targets to fit ML's criteria. Sometimes, the price targets are changed on behalf of the analysts.

To: bvinnieb who wrote (4670)	11/19/2000 3:41:53 PM
From: samim anbarcioglu	Respond to of 6531

>>WHo will buy the houses stock if they have driven many people out of the market? When the individuals get up and leave the table, the remaining players just play among themselves. Indeed this was the case until the early 1990s. All throughout 1940 - 1990, individual investor stayed away from direct market involvement. Maybe 7 - 8% of all equities was owned by individuals. But the game kept going. >>This downgrade on AMCC comes after one or two days ago four firms upgrading AMCC. They don't cooperate, they play against each other... best, Sam A.