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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Bonnie Bear who wrote (11271)	12/12/1997 2:26:00 PM
From: John Hunt	Respond to of 18056

Bonnie, << How come nobody wants to admit that the stock market is spectacularly overpriced and due for a correction anyway? >> I think it is a combination of things. - We all hate to admit we are wrong and accept defeat. - Brokers have to drop their recommendations slowly to avoid being sued for bad research. Many years ago, I studied a publication at the library that listed brokerage upgrades and downgrades on a weekly basis. Even though a stock announced a massive drop in earnings, etc. The brokerages would drop the ratings one notch at a time over a period of several weeks or months. - Pump and dump by the brokerages to clear their inventory, sell out positions in the pension funds they manage, establish short trading positions, etc. This keeps them telling a 'fairy tale' to investors long after they should. Just MHO. John