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Politics : Formerly About Applied Materials

AMAT 259.92

-1.1%

Dec 30 3:59 PM EST

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To: Gottfried who wrote (31453)	7/15/1999 1:33:00 AM
From: Mitchell	Read Replies (2) of 70976

Ohh My friends, I'm sorry to say that I've sold AMAT today at 77. I do think this will be near the top for AMAT and TER and so many others too. I think Y2K will impact global GNP and, as a result, the financial markets. This will last for several quarters (maybe a few years). With declining GNP & depressed markets. I've reluctantly begun to liquidate my high flyers and to concentrate my holdings in what I consider to be defensive positions, ie. some oil, banking and high-tech bandwitdth/wireless infrastucture plays. I'll preserve my capital at this point and be back after the major slump, which I predict for this fall and into the winter as Y2K approaches and the panic prevails. Thought I'm sure your all too drunk with excitement at our gains to pay any attention, I'll nevertheless bid you all, my optimistic long friends, the very best of good luck........ Mitch P.S. Buy Gold !

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