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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (34203)	2/27/2002 1:16:17 PM
From: limtex	Read Replies (1) \| Respond to of 99280

Anyone scared of the Big Gap Up tomorrow? Many up gaps to be filled.

To: Justa Werkenstiff who wrote (34203)	2/27/2002 1:37:34 PM
From: 16yearcycle	Read Replies (1) \| Respond to of 99280

Justa, imho, the houses are doing everything they can to kill this bounce. Example one: csco ex two: emlx ex three: ebay etc etc. I think the "bad guys" are going to win. If csco turns up, we go nuts and get buy signals all over the place, and probably bounce above 1900 before a late March tax sell off. But CSCO is fading. No rally w/o csco. Probably 80% that we fade and go to low 1600's or worse within 4 weeks.

To: Justa Werkenstiff who wrote (34203)	2/27/2002 2:06:25 PM
From: Softechie	Read Replies (1) \| Respond to of 99280

duhhh I don't know...Wall Street Analysts Tell Congress They Were Clear-Eyed About Enron A WALL STREET JOURNAL ONLINE NEWS ROUNDUP WASHINGTON -- Wall Street analysts who continued to recommend Enron's stock as the company careened toward bankruptcy last fall told Congress Wednesday they formed their assessments objectively and were not pressured by their firms. It didn't become evident to them that the company was in serious trouble until just before its collapse, the analysts testified. Wall Street analysts appeared before the Senate Governmental Affairs Committee on Wednesday. Analysts are on the defensive for their role in Enron's failure. They can have potential conflicts of interest in a system in which they are often compensated for helping their investment firms get lucrative business arranging mergers or stock offerings for the same companies the analysts cover. "It now seems clear that too many analysts failed to ask 'why' before they said 'buy,'" Sen. Joseph Lieberman (D., Conn.), chairman of the Senate Governmental Affairs Committee, said at a hearing at which four analysts from big investment firms testified. See full coverage of the Enron saga. Eleven of 16 analysts who followed Enron were still rating it as a "buy" or "strong buy" as late as Nov. 8, two weeks after the Securities and Exchange Commission announced it had opened an inquiry into the company's accounting. "I did not own Enron stock," testified Anatol Feygin, a senior analyst at J.P. Morgan Securities Inc. "I have complete freedom with respect to the recommendations that I make concerning any [stock] and my compensation is not tied to the recommendations that I make. ...I have never received any compensation in any form from any company that I analyze, including Enron." The attention comes amid a broader regulatory push to limit the amount of conflicts faced by analysts, who act as a filter between companies and stock investors. In the past year, several changes have been proposed by regulators including the Securities and Exchange Commission and trade groups such as the Securities Industry Association. Just this month, the National Association of Securities Dealers and New York Stock Exchange jointly proposed new rules for securities firms mandating that analysts disclose their firm's banking relationships, setting limits on the degree to which investment bankers can control analysts' reports and recommendations, and placing new limits on analysts' stock ownership and trading. Yet some specialists say such changes -- as well as any potential changes that could stem from the Enron inquiry -- won't be enough to stop the biggest conflicts if they don't completely cut the cord between analysts' pay and investment-banking work. As Congress continued to delve into the biggest corporate bankruptcy in U.S. history, Federal Reserve Chairman Alan Greenspan said Enron's collapse underscores how fragile companies can be when their main business is production of intangible services, such as energy trading in Enron's case. "The rapidity of Enron's decline is an effective illustration of the vulnerability of a firm whose market value largely rests on capitalized reputation," Mr. Greenspan said, in an appearance before the House Financial Services Committee Wednesday. "Trust and reputation can vanish overnight. A factory cannot." Updated February 27, 2002 1:00 p.m. EST