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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (1686)	5/25/1999 11:25:00 PM
From: X Y Zebra	Respond to of 3536

From the Worden Brothers daily commentary.... _______________ TIPS & HINTS Monday, May 24, 1999, 4:00 P.M., ET You seldom see a major wire house rate a stock "Sell." Bearishness has never been a popular commodity on Wall Street, and some things just aren't done. There are stocks that everybody knows are beneath contempt. But the companies behind such stocks are run by people with feelings, human beings with wives and children, and who might some day float a nice fat secondary offering. Wall Street is sensitive to their distress and can generally be relied upon to award compassionate "Neutral" ratings to the downtrodden. So when a prestigious name like Credit Suisse First Boston drops some bombs on four big banks in the form of "Sell" ratings, we stand up and take notice. Citigroup (C), Chase Manhattan (CMB), Bank One (ONE) and J. P. Morgan (JPM) are all rated "Sell." Two of them are in the Dow 30. The market took notice too. Our guess is the Dow is headed for its 40-week moving average. To get there it will have to pass by a famous landmark called Dow 10,000. The destination is just a bit below that, around 9975. That little trip ought to create a rumpus. ____________________ Nothing like a wild ride..... Fasten your seat belts... and [hopefully] you all enjoy the ride.... yeee haw ! (or whatever) And from the article you made reference to.... "It's a little premature for a downgrade like this when the industry is about to report earnings that are better than anyone expected," said Ruchi Madan, a banking analyst at PaineWebber in New York. "We're pretty neutral on the industry but selectively bullish on certain stocks. If anything, the sell-off has created even more opportunities." ___________________ Could the "downgrade" be misconstrued ?.... hmm no, just a mere coincidence... btw.... isn't First Union (the bank with disappointing earnings the one with the advertisements about the (weird) Financial World ?... you know the one that says: "If you prefer, the Mountain will come to you".... Well, it looks like it is coming... [down].