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Technology Stocks : Bay Networks (BAY)

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To: robt justine who wrote (4262)	5/4/1997 8:20:00 PM
From: John Messbauer	of 4270

Robt, it has been awhile. I held on to BAY. I should have sold like you and put my money to better use. I do think BAY may be turning the corner an very well may see it in the $20's. Alot depends on House this week and how his announcements(trade show & CNBC interview) are received and his projection of the future for BAY. If there is a positive response,CSCO beats earnings(Tuesday) and it breaks resistance of $21 we may see it go to $25. How long it holds is another question. Remember the FOMC on 5/20. They will raise rates and the market will drop considerably after the recent runup. It could provide a short term pop for those who aren't greedy and willing to take the risk. As for me I am going to wait till after the FOMC meeting before I get into anything new. I think prices will go lower as the summer approaches. Then wait for the summer rally. A few stocks I am following real close are PCMS, APCC & FORE. Regards, John

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