CALDEIRÃO DE BOLSA

Eheheh Bowie! Essa está bem apanhada! Incrível como Abby Cohen virou indicador contrário, depois de ser a "guru" de referência do " bull market", em que bastava abrir a boca para os mercados voarem.

Todos os analistas erram (ou não fossem eles humanos), mas o que me impressionou negativamente na Abby Cohen foi o facto de estar "bullish" SEMPRE desde 2001 até 2003. Mérito lhe seja dado que, no topo da bolha, ela ter alertado para os riscos de uma correcção, numa oportuna chamada de atenção. Mas desde o fim de 2000, ela tem estado sempre, sempre ao contrário do mercado, o que é complicado quando se vê o Nasdaq e o S&P a mergulharem, pura e simplesmente.

Um abraço,
Ulisses

Já não falta
Mas é preciso ter calma que isto não vai já directo
para baixo, vamos entrar na fase do "verga mas não empenes, torce mas não partas".



************ MARKET RECAP **************

It looks like the market was disappointed in Cisco's prognosis of the future. It believes the future isn't quite as bright as some have recently been led to believe. Cisco Systems sees its future sales as being flat and therefore, not increasing. The CEO of Cisco Systems must be quite proud of himself and his companies ability to forecast the future. He must be proud because the investing
public ignores every single bad report that the government releases, including bad news from Sir Alan himself, and
chooses to follow John Chambers' lead.

Jgeeesh, maybe we should put him in charge of the Fed. Then, the government could threaten him of losing his job...he would squawk like a Chatty Cathy doll...and say what we all want to hear. "The economy is in good shape. And you can take that to the bank, because I used to run Cisco Systems!"

So Cisco believes the future isn't as bright as the "paid-to-be-bullish" crowd on Wall Street. Hmmm, that's interesting when you contrast that with the "Queen of wrong-way-investing" Abbey Joseph Cohen. Abbey just recommended to INCREASE YOUR EXPOSURE to stocks...AFTER this run-up. Wow, her timing is simply awesome to behold! "Investor risk tolerance has improved, appropriately. Major clouds that had previously hung over the markets -- worries regarding terrorism, military engagement in Iraq and the domestic problems involving corporate governance and accounting -- have receded," Cohen told clients in a research note. It's rather interesting how she fails to mention that corporate profits are still pretty poor and quite soon, nobody will have a job. Oh well, she is indeed at the top of the food chain of the "paid-to-be-bullish" crowd on Wall Street. What else can she say? Her 7 figure salary is at stake!

That's all for today.

David O´Brien

Já só falta mesmo aparecer a Abby Cohen a dizer que isto vai ao céu.

... mas nos últimos 3 dias, a SSB, a Merryl Lynch e a UBS vieram (nos EUA) defender as Telco, as semis e as fabricantes de equipamento telco.

E estranhamente, em todos os topos isto acontece, saem casas grandes de research a defender papéis sobreavaliados, e a dizer que de facto, não lhes parece que estejam sobreavaliados (mesmo em casos que são óbvios).