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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (12706)	6/12/2002 5:03:35 AM
From: nsumir81	Respond to of 19219

Re Lockup periods..an example that comes to mind..SONS redherring.com and redherring.com Back in July 2001, I claimed elsewhere that they were doing what I call a la-NUFO (as in early 2001). To me, they were providing upward guidance then that simply could not be believed given the amount of stock that had already been unloaded (and still was being unloaded) and the fact that almost every company was guiding flat to down (MSFT included albeit in a different area). That sparked a nice short covering rally from 16 to 24. That was it. Even the CEO appeared on CNBC then and was asked about their guidance and was lauded as I remember correctly on their performance especially given that they were in the networking sector that was otherwise in a depressed state. Lo and behold. See what happened in August 2001. And then the warning. Just like NUFO in January and February 2001. 'Upward guidance.' Then warn. Same old trick works always. Stocks are gambling instruments (especially tech ones). Nothing intrinsic about them imo. The 1995 Securities and Litigation Act has done more to support this kind of activity and an ebullient stock market as has the adoption and condoning of proforma BS imo. These are things that CAN NOT be captured in charts and floats with all due respect (follow them myself) imo. Like the peace dividend after the collapse of the Soviet Union and the winning of the Gulf War. Like the increasing support of the current account deficit by foreigners in the '90s (forget the exact nos but something like from the 20-30 % that jumped to 60 % or so). These were overlooked by the bears then who eventually got trampled all over. Not taking away anything from the bull market. Just the bubbles and the froth. justmyBIASEDopinion