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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: t2 who wrote (60321)	8/2/2001 6:11:17 PM
From: Dave	Read Replies (2) \| Respond to of 74651

An upgrade out of Ashok Kumar on Intel would be mean the Nasdaq will rocket. The sad thing is that you could be right. It's amazing to me that anybody listens to these stock cheerleaders at all, let alone making investment decisions based on their self-interested touts. Certainly the professional money managers do not give credence to these bozoes. But I think your post-bubble speculators are still out there betting on spikes due to analyst upgrades in much the same way that they were betting on spikes due to stock splits during the height of the mania. And just like the stock-split speculation, this mass of mindless speculators acting in concert actually drives prices up. These speculators are the day traders, the armchair economists, and the blustering blow-hard frogs, all betting with each other in the backrooms of the casino, betting that they are just a hair faster than the speculator next to them, just a trifle more adept at guessing the timing of the market fluctuations brought about by their own speculation. The irony is that it kind of works for a while. Until very suddenly it doesn't. I predict that the investment-house analysts' fifteen minutes of fame is just about over. They will be widely blamed for the bubble and its aftermath. [edit]: I just saw this article with a story about another analyst biting the dust: nypost.com Dave

To: t2 who wrote (60321)	8/3/2001 10:47:52 AM
From: kvkkc1	Read Replies (1) \| Respond to of 74651

Niles is on record not buying intc and says to stay in cash. If you haven't learned that upgrades are designed to make their own clients money, you probably don't have a clue about how to deal with the market scum. What was the rationale for the semi-conductor upgrade? I think I read that it can't get any worse. That's what I thought about MSFT at 70 on the way down to 40, and CSCO at 50 on the way down to 13+. Also, the Semi-conductor Industry Association came out with June sales figures that absolutely sucked. These guys guess right once in a while, but as there is no consequence for being wrong, what the hell do they care? Be forewarned about relying on street recommendations as stated by the Acting SEC chief.knc