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

To: Zeev Hed who wrote (41535)	3/18/2002 11:42:34 AM
From: TimeToMakeTheInvs	Respond to of 99280

Hi Zeev, good call on MRK, about to hit my $3 difference <g>. tim

To: Zeev Hed who wrote (41535)	3/18/2002 11:42:49 AM
From: hotlinktuna	Respond to of 99280

Zeev...got back into THOR at 10.95 w/hod at 12.02 and lod at 10.74 and last trade at 10.99 ...have done well over the months in this one...tuna

To: Zeev Hed who wrote (41535)	3/18/2002 12:01:25 PM
From: orkrious	Respond to of 99280

You always short the strongest, the weakest Q are BRCD and EMLX, I've just always done better with my brcm shorts than the storage duo. besides, if we have a serious selloff, won't brcm have some "catching up" to do? <G>

To: Zeev Hed who wrote (41535)	3/18/2002 12:16:42 PM
From: stockman_scott	Respond to of 99280

Tough Times for Wall Street's Firms By Brian Kelleher Monday March 18, 9:26 am Eastern Time NEW YORK (Reuters) - Wall Street firms, far removed from the halcyon days of the late 1990s, this week are expected to report quarterly profits fell as much as 35 percent and offer little hope for a dramatic investment banking turnaround anytime soon. Goldman Sachs Group Inc. (NYSE:GS - news), Lehman Brothers Holdings Inc. (NYSE:LEH - news), and Bear Stearns Cos. Inc. (NYSE:BSC - news) are slated to report fiscal first-quarter earnings on Tuesday and Wednesday, with Morgan Stanley (NYSE:MWD - news) following next week. It's become the same old story for the group: declining profits, cost cutting, and layoffs as lucrative stock underwriting and merger deals fail to materialize. ``The first half of the year is not going to be anything to get excited about,'' said Dave Trone, a Prudential Securities analyst. ``The firms are back to the issue of 'do we have a need to cut staff'.'' Investment bank Credit Suisse First Boston, a unit of Switzerland's Credit Suisse Group (NYSE:CSR - news), last week said its 2002 revenues would not exceed last year's results, prompting a fresh round of job cuts. ``I don't have a specific headcount target, but I am confident that we will be taking more heads out in investment banking,'' CSFB Chief Executive John Mack said on March 12. CSFB has already cut 2,500 jobs, bringing its staff down to 25,152 at the end of December. Wall Street executives talked about a market rebound in the second half of 2002, but now market jitters -- largely related to the Enron Corp. (Other OTC:ENRNQ.PK - news) debacle and other accounting woes -- have many lowering their expectations for this year. ``We're still some time away from being able to say we have recovered,'' said one top mergers and acquisitions (M&A) banker. ''I don't expect levels to be even last year's levels.'' The banker called the salad days of 1999 and 2000, when profits were at record highs, ``an aberration.'' ANALYSTS LOWERING ESTIMATES Several analysts have lowered earnings estimates as the quarter went on, citing weak M&A and equity underwriting conditions. ``My estimates ... have come down for M&A volumes for the rest of the year,'' said Robertson Stephens analyst Justin Hughes, who lowered his earnings estimates in January. Lehman's and Bear Stearns' results were bolstered last year by a strong bond market, as the Federal Reserve cut U.S. interest rates 11 times. Strength in fixed income is expected to wane as the Fed raises interest rates, but the sector is still strong. ``For the start of this year, fixed income is still the place to be,'' Hughes said. Still, most analysts see a relatively weak first quarter. ``Until market stability and confidence returns, corporates will remain inwardly focused, avoiding the markets and large strategic transactions,'' UBS Warburg analyst Diane Glossman said in a research note on Friday. Firms other than CSFB are also expected to pare staff. ``We believe that significant overcapacity continues to exist with respect to both market players as well as headcount at individual firms,'' Glossman said. ``We expect managements will make additional personnel cuts to manage profitability across the cycle.'' A.G. Edwards Inc. (NYSE:AGE - news), a St. Louis-based brokerage that is expected to report earnings next week, is cutting 400 jobs, or nearly 2.4 percent of its staff. The job cuts are the first in the company's 115-year history, as slack customer trading activity crimps profits.

To: Zeev Hed who wrote (41535)	3/18/2002 12:31:30 PM
From: JRI	Read Replies (1) \| Respond to of 99280

You see any chance we could be flat, maybe lazy up until Fed meeting tomorrow, and then head down hard (your 2 week weakness scenario?) over next few days. Being so close to Fed meeting, I'm thinking that we won't see a lot of movement until the call tomorrow..so, if anything, some big money will want to get out by then, and may force a slow, wedge-like dribble up (not breaking today's highs, of course). In other words, distribution for the next day.. Thoughts?