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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.44

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Nov 10 4:00 PM EST

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To: The Freep who wrote (80394)	7/17/2001 11:19:00 PM
From: t2	Read Replies (1) of 99985

Maybe it's semantics, NV, but I read Niles' comments as saying that, basically, he thinks Intel is being overly bullish and he ain't gonna play that game. If he upgrades tomorrow, I'll be proven wrong, but I'd be mightily surprised. And, as you know, I'm always right <g>. Anyway, others may up or downgrade Intel tomorrow, too, so . . I would bet on at least one upgrade but not out of Dan Niles. I don't believe many bullish or bearish analysts will change their views yet. We will probably see lots of reiterations. The changes will probably come later..weeks or a few months from now as they analyze the PC shipments data. The one point to note is that the "channel stuffing" theory has already played out and that argument won't fly anymore. That is why Niles has been implying by his comments for months now and Intel is telling him that it is not true. In addition, they say there is a backlog in P4 orders. You are not going to get channel stuffing if even existing orders can't be filled. Even Joe Osha stopped talking about in the past couple of weeks...his reason to be bearish is valuation..fair enough. I also admit that I have not seen Intel management this bullish in a long time. I still believe that the market is underestimating PC demand that we will be seeing in the coming years. Lets see how this unfolds. Good Luck with your trading.

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