Após quarto maior ganho de sempre, Martifer afunda 15% com a OPA

[Ulisses Pereira]

"Net Upgrade Has Only Comedic Value"

By James J. Cramer
RealMoney.com Columnist
10/21/2004 8:25 AM EDT


"There can be only one reason Smith Barney upgraded eBay (EBAY:Nasdaq - commentary - research) today: The firm must want us to take our minds off the horrible choking by the Yankees. The folks at the firm must be thinking, "Look, let's get people's minds off the high-paid collapse of A-Rod and company by getting them to focus on the high-paid analyst upgrade of eBay, after his now-cataclysmic downgrade of the stock not that long ago."

Now, will Janco Partners' Martin Pyykkonen similarly blot out the Yankees' el-foldo by upgrading Google (GOOG:Nasdaq - commentary - research) tonight after it reports a blowout quarter?

Stocks like Google and eBay and Yahoo! (YHOO:Nasdaq - commentary - research) are incredibly difficult to follow. They are long-term buys and short-term holds. They never present you with an agreeable entry point, except when some knuckleheaded analyst decides to make a valuation stand against them -- as if that was what drove these stocks.

Put simply, there are no flies on the eBay story. It is getting stronger, not weaker. It is in secular heaven when the rest of us are in cyclical hell. Same with Google.

Which is why the only reason we are getting these upgrades must be comedic value. And we can appreciate it. A collective thanks to Smith Barney for making us focus on something else this very gray morning, unless we are from Fenway or the Cask 'n Flagon. "

(in www.realmoney.com)