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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (8223)	10/30/1997 4:09:00 PM
From: MulhollandDrive	Read Replies (1) \| Respond to of 97611

Mohan, I agree with much of the sentiment about the "upgrade/downgrade" nonsense, but the reason these houses keep on doing this is because it works. Only when independently thinking investors quit acting like lemmings and stop buying/selling on these recs, will they change their behaviour. The other alternative would be more SEC regulation, such as making the houses do SEC filings stating their positions either long or short before they make their upgrades/downgrades. I think that has a snowflakes chance in hell of happening (SEC reg), and feel what will make these guys sit up and really take notice will be when it's finally concluded the overall upgrade/downgrade cycling of stocks becomes self defeating. I mean if the individual investor feels he's being continuously jerked around he may just walk away, at which time they will have succeeded killing their golden egg-laying goose....bp