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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: hitesh puri who wrote (28444)	12/20/1997 2:53:00 AM
From: uu	Read Replies (1) \| Respond to of 61433

Hitesh: Just a reminder! This is what all these con-artists (i.e. analysts) really mean: Strong Buy: We have a couple of big shot clients who want to get out of this stock and are in a rush! Buy: Our big shot clients want to get out of this stock, but they are not in so much of a rush! Hold/underperform: Our big shot clients badly want to get their hands on this stock. Eventhough they can wait a bit, but they really want the stock NOW! Sell: Our big shot clients want to get their hands on the stock NOW and we mean NOW! recent Examples: Practically all con-artists (i.e. analysts) downgraded the entire tech sector earlier this week after all of the stocks they downgraded had already been beaten down by 30-40% (semis, networkers, database comapnies, etc.). And these were the companies that only a few weeks earlier they were screaming and calling them as Strong buy! A day after their so called downgrades the tech sector comes back big time, continuing through today (with of course extreme volatility and bumps on the way)! Perhaps the funniest of them all was with SUNW, when Prudential called it the best single investment idea of 1997 if not the century!, when the stock was at $47/shr back in late September. The stock then goes up to $52 and right before the earnings it starts coming down. Sun misses its earning by 2 cents and the stock goes to the $31 range. Prudential then calls the stock as a hold (and calls it dead money for the next 6 months). A week later the stock goes to $38, and Prudential calls it a Strong Buy!! The stock goes to the $41/shr range, and then it comes back to the $34-$35/shr range! Currently the stock is trading at $38 an some change! Regards, Addi Jamshidi

To: hitesh puri who wrote (28444)	12/20/1997 8:58:00 AM
From: vegetarian	Read Replies (2) \| Respond to of 61433

Yep, I agree some brokerage house's recommendations have been piss poor and I suspect not because they are not able to see facts and add 2+2 but they clearly have other interests. IMO, some of the recent recommendations from the following are pathetic: Goldman Sachs Prudential Furman Selz Robertsen Stephens (Paul Johnson others?) I have started using them as contrarian indicators, why else would you upgrade AOL at 85 and MU? plus other jokes too many to list....