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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread -- Ignore unavailable to you. Want to Upgrade?

To: Boca_PETE who wrote (722)	3/7/2001 3:58:03 PM
From: Tim Bagwell	Read Replies (2) \| Respond to of 10065

Right Pete, Five percent sure sounds like she's not gambling much on her ability to call this market.

To: Boca_PETE who wrote (722)	3/7/2001 5:00:25 PM
From: Wally Mastroly	Read Replies (1) \| Respond to of 10065

A little more commentary on Abby-baby, her advice for today, & other analysts: Top Wall Street strategists say buy By Noelle Knox, USA TODAY NEW YORK — Abby Joseph Cohen, one of Wall Street's most prominent bulls, said Wednesday it's time to buy more stocks, suggesting the markets are poised to rise. The Goldman Sachs strategist advised clients to put 70% of their investments in stocks, up from 65%. This is the first time Cohen has changed her asset-allocation recommendation since saying to scale back on stocks last March, when the Standard & Poor's 500 and Nasdaq composite set records. Since then, the S&P, a broad market indicator, has fallen almost 18%, while the technology-focused Nasdaq has slumped 56%. "Risks remain, but they are mainly of time, rather than further notable price declines," she said. Cohen is the third strategist this week to paint a rosier picture of Wall Street. Monday, Merrill Lynch's David Bowers and Morgan Stanley Dean Witter's Jay Pelosky advised buying more U.S. stocks. Wednesday, stocks rallied for the third straight day, despite profit warnings from tech leaders JDS Uniphase and Broadcom. While Cohen has in the past lifted investors' spirits because of accurate calls during the '90s bull market, her recent record has been less than impressive: In early October, she turned bullish on techs for the first time in a year. Since then, the Nasdaq is down 35%. In mid-November, she said stock prices, especially techs, were "the most attractive they have been all year." That may have been true, but the Nasdaq continued to slide and is down more than 25% since. And last week, Goldman Sachs' team of tech analysts cut profit predictions for software companies and said tech stocks could continue to suffer in the second half of the year. Some of Cohen's rivals are still preaching caution. "Investors should still be thinking defense," says Douglas Cliggott, strategist at J.P. Morgan. "There are still very significant risks to earnings for at least the next two quarters. The major trend in the Nasdaq is still down." Contributing: Adam Shell