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Technology Stocks : Vitesse Semiconductor

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To: Dr. Id who wrote (2516)	4/27/1999 6:19:00 PM
From: Robert Schwartz	of 4710

JDB - I can't figure out today's drop. Check out Broadcom. They closed up ~4 after being up ~6. I have felt for a while that these two companies are the best market plays. I am still afraid, however, that we are in for a summer slowdown that would take all of the techs down 20-30% between now and September 1. This has held true for most of the past 8 years. I believe there was only 1 exception. Most people believe that October is the worst month to be in the market, however, I was told by a reliable source that the worst month is historically May, with October a close 2nd. I don't plan to do anything drastic at this point. Every time I have tried to time the market, I have been burned. Tomorrow should be a key indicator as to where the techs are headed. I would not be a bit surprised to see the NASDAQ down big (-75 range / 3%). AOL reported earnings after the close today that "only" exceeded estimates by $.02. I think the market was expecting more. Hang in there. If you are going to be in the market, VTSS is a great place to be. However, I would not be holding anything on margin at this point. By the way, I am still looking for a re-entry point (low 40's?).

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