Prudential gags analysts during WCOM sell-off(so-called)

[pms]

BTW, it could have been called the Micron sell-off..  Not only did the WCOM
anouncement come at a perfect time to damage the chart but several companies
came out with earnings disappointments which were conspicuous in the absence
of earlier earnings warnings(which are the norm).  The pros want
"capitualation" and they seem to be working on it.  For the innocents,
capitulation means that you scare the living daylights out of the faithful
buy and holders, make the suckers panic sell, so that the true owners of
capital will come in and buy.

Thursday June 27, 12:26 pm Eastern Time
Prudential To Analysts: No Media Contact Wednesday Amid Selloff
By: Cheryl Winokur Munk, Of DOW JONES NEWSWIRES

NEW YORK -(Dow Jones)- With investors in a tailspin amid Wednesday's
frenzied stock market selloff, analysts at Prudential Securities' Inc. took
a firm- mandated break - from talking to the media.

A spokesman for Prudential Securities, a unit of Prudential Financial Inc.

 PRU), said the decision was made after the firm realized the bloodbath the
market was going to take following news of improper accounting at WorldCom
Inc. (NasdaqNM: WCOM - News) (WCOME).

Prudential decided that analysts' resources would be better spent consulting
clients instead of in front of TV cameras or on the phone with reporters.

It was the first time Prudential Securities adopted such a policy, and "if
the need arises again, we would probably do it again," the spokesman said.

  -By Cheryl Winokur Munk, Dow Jones Newswires; 201-938-2123; cheryl.munk@
dowjones.com