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Technology Stocks : Xilinx (XLNX)

XLNX 194.92

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Feb 14 4:00 PM EST

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To: Skeeter Bug who wrote (1185)	5/7/1997 7:34:00 PM
From: Thomas G. Busillo	of 3291

Skeeter, the cut in the capital gains tax is long overdue. That's about the only thing I can say with any degree of certainty. I guess the conventional wisdom says it's moderately bullish short-term. Somewhere out there there have to be some individuals delaying selling based on the expectations. Are there enough of them to matter? Who are the "them" (i.e. are institutional money flows affected in the same manner as "the public")? I have no idea, but I'm sure there are a few academics working on the answers. I'd say if things start to get really dicey again, the small investors are more likely to throw out tax-related considerations and protect what they have. As far as the budget agreement goes...a framework is a framework. The devil is in the details and everyone is too busy congratulating themselves right now to worry about what happens when the details start to take the bloom off the rose (hmmm...two clich‚s in one sentence...been a long day). Don't get me wrong - a balanced budget is a great deal; the problem is it's not a done deal. So I agree with you on both counts - there's upside there long-term, but the upside's gone a little too far too fast. Good trading, Tom

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