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To: marc chatman who wrote (12340)	2/21/1998 3:45:00 PM
From: mph	Read Replies (1) \| Respond to of 95453

I know exactly what you mean. Here's an example. Right before announcement of 3Q earnings for PCMS, which occurred with a strong pre-earnings run-up, one broker issued or reiterated a strong buy rating. (Can't remember the broker/ANALyst at the moment) The next day before the open, the earnings were announced, the company missed and the stock tanked significantly. There is little doubt that the customers of that firm cashed out the day before the announcement, after the recommendation issued, and well before the shellacking suffered by less well connected investors. Good trading, mph(bloody but not bowed)