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Technology Stocks : RATIONAL SOFTWARE- BUY OR HOLD -- Ignore unavailable to you. Want to Upgrade?

To: Stock moghul who wrote (2471)	6/9/1998 1:51:00 PM
From: Bosco	Read Replies (1) \| Respond to of 3115

Dear Stock moghul - you asked in response "Would you say the same if it had been an upgrade?" It is a conditional "yes." I mean, it depends on who is saying what - and when. Even though the research and retail groups are supposed to be separate [China Wall doctrine,] by the time the news of an upgrade is ready for general public consumption, the nonclientele base is at least a few days behind. For example, let say you and I are using deep-discounters and ML [or any house, for that matter] finishes its research note on a co, say RATL, the firsts to know are itself and the institutional clients, then its own retail customers - and then a PR to tell the world. Now, even so, outfits like ML and GS can move stocks, so the nonclienteles can still do well. However, I don't know about the second tiers or regionals like AH, Olde or even 1st Albany. Of course, there are also special cases. There have been suggestions that certain houses "strong buy" is a sell signal [no, I m not gonna to name names - can't afford them lawyers <g>.] Case in point, last summer, many houses and their mother-in-laws have upgraded BAY [in which your truly is a long-term investor.] As it turns out, BAY was about to hit a short-term top [I was worried and unfortunately it has come true.] Of course, there are trading houses who are less than subtle. Check out ACRT [I ve no position] - Key West regularly would come out with a "strong sell" because it has held a short position in the stock [well, at least KW is putting the money where its mouth is!] Sorry to yada-yada-yada in such a straight question <g> best, Bosco