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Technology Stocks : Intel Corporation (INTC)

INTC 48.72

+3.0%

Jan 14 3:59 PM EST

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To: Yaacov who wrote (39408)	11/7/1997 2:31:00 PM
From: Barry Grossman	Read Replies (1) of 186894

Yaacov - Re" " the market is going down! Why? Do you have any idea?" At 1:00 am PST I heard the news conference from Iraq and saw that tensions were rising quickly in that area. The markets in Asia and Europe were quite low in the am and then the jobs data was "more inflationary" than hoped for and the S&P Futures were down limit so the market opened down and has stayed 100-200 down all day. Greenspan's comments came after the market opened and, if anything, were ignored. I love his public announement that our public stats stink - that inflation is probably about 1% lower than estimated. Know what that does to the productivity numbers? Intel opened off as low as 72 and after going sideways for a half hour exploded to the upside as the buyers decided to move. The stock went as high as to 78 before pulling back to where it is now: INTC 75 5/8 + 2 1/8 INTCW 54 3/4 + 1 7/8 DJIA minus 185 NAS minus 35 S&P minus 22 Imagine if this were an up market day. Patience is prudent. Barry

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