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Technology Stocks : INTC

INTC 40.50

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10:40 AM EDT

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To: Harry Landsiedel who wrote (839)	1/21/1998 8:31:00 AM
From: Jules B. Garfunkel	of 990

Harry, Enclosed is a copy of an e-mail I sent to Jack Rains this morning. "Sometimes it takes a while for the good guys to win, but hopefully we will get our due today. IBM is down now 6 1/2 points in Europe and I am hoping it will go much lower. I don't think IBM's problems will be seen as a general condition effecting the overall tech sector. If viewed correctly IBM will probably bring the rest of the market down temporarily, but as soon as other companies report good earnings, (CPQ or MSFT), the rest of the market should recover, while IBM continues down. I do think that with IBM's earnings report from yesterday, it will now finally stop the unwarranted upward momentum that IBM has enjoyed over the last 9 months. The fact that IBM is part of the DOW should result in a rapid drop in the ovedrall market as investors begin to pull out of the DOW Index funds. Hopefully Intel will then be able to regain the leadership it rightfully desreves for the tech sector, now that investors finally realize that IBM has feet of clay." Regards, Jules

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