To: Susan Saline who wrote (4235 ) 4/18/1998 2:15:00 PM From: Rob Read Replies (3) | Respond to of 9343
Susan: I agree with your chart reading. Even seemingly parabolic moves like the beginning of this one need to refresh one day out of, oh, four or so. ;-) Any gap up on Monday will create a fresh squeezie situation. I haven't read my Barron's yet, but I hope they do write about tulips and net stocks. Real traders have been fading Barron's every week for 5 years and making huge money doing so. (Abelson must have gout or something; I used to see him on the Today show, I think, in the early '80's and found him the most refreshing conversationalist on biz issues around. Now... still witty, but increasingly cranky and mean. Too bad. Lisa: I heard the ML analyst on Thursday as well. What's your point? His near-neutral, buy-long call is the biggest CYA call of the year. He's advising clients with trading stamina to go in the water at their own risk AND setting himself up for a smarmy conference call in 3 months when the beast is @ 70. He looks smart both ways (hopefully). Analysts are paid to move stocks and give opinions. These stocks are already moving, so he's giving the latter. Big deal. If I were him and had clients besides myself and my firm, I'd probably say the same thing. This situation is evolving at an explosive pace and the longs are winning. He's rooting now from the sidelines, but wishing he'd been more of a seer 3 months ago. JMHO, but I hope you guys (Lisa vs. the Longs) don't take your aggression to your trading desks. Healthy debate is fine, but jeez. I also have to say, as a long, that I was extremely encouraged by two moves this week: the purchase of that chat area and the postponement of the earnings announcement in the face of the xcit downdraft. I'm sensing some management brilliance and I LIKE IT. Marketing, PR, managing hi-growth, and management communication with the market are discreet and difficult art forms. I've got a pleasantly creeping feeling that these guys might be zen masters. Very, very cool. What do you think? Cheers, Rob