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To: Israel who wrote (23200)	11/21/2000 3:58:41 PM
From: Jock Hutchinson	Read Replies (1) \| Respond to of 25814

Israel: If you feel that betting against the analysts by going short on their upgrades and long on their downgrades is a successful strategy, by all means make yourself at home. This means that you would have gone short Cisco several years ago on an initial upgrade, and had your head handed to you on a platter scores of times. It also means that on the initial downgrades of Xerox recently, you would have been an aggressive buyer in the 40s. You can offer all the anecdotal evidence that you want, (And you have cited some VERY impressive examples)but the fact remains that analyst upgrades, downgrades and concomitant earnings revisions are a tremendous key to a stock's movement.