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Technology Stocks : BAY Ntwks (under House) -- Ignore unavailable to you. Want to Upgrade?

To: Doug who wrote (3556)	1/20/1998 11:51:00 AM
From: jkb	Read Replies (2) \| Respond to of 6980

LU and NETA both beat their numbers this morning. So far, so good for the techies. -Jay

To: Doug who wrote (3556)	1/21/1998 12:52:00 PM
From: Doug	Read Replies (1) \| Respond to of 6980

There has been a lot of flack on Insider Trading. Surely, the need for some constraints on the Analyst Upgrades/downgrades, especially those that are made without any Earnings revisions, merits discussion. Last week IO,a Seismic High Tech exceeded its earnings and lost 7 pts due to a Downgrade. In that case after the damage was done, the Analyst stated she did not expect such a steep decline especially as she maintained her original earnings forecast and a target price 10 pts higher than the days closing. IO is now in recovery mode. If there are no earnings revisions, I believe this selling is also overdone and we will get past these downgrades.