Exactly, they're loading up when they're advising to sell....

Exactly, they're loading up when they're advising to sell. Marcus Padley had a very good article o it a little while ago. The make their money of the big clients and prefer to keep the smaller ones churning through on commissions. When you look at their fee and revenue structure it only make sense as to what the motivators are. Brokers always issue downgrades at the bottom of the cycle. JUst something to keep in mind when reading so called expert analyst reports. Always ask, whats their position and their motivation?