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Technology Stocks : Intel Corporation (INTC)
INTC 37.83-4.3%Dec 12 3:59 PM EST
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To: Paul Fiondella who wrote (48455)2/22/1998 5:40:00 PM
From: Ian Davidson  Read Replies (1) of 186894
 
Paul

I'm not sure why you would take advice from "Fleck" as you put it, seeing as he's been dead wrong about everything re: the P.C. industry for the past 3 years that I've known about him. The first time I saw him he was telling everybody that he had gone into some retailers like Best Buy and Comp USA and they were absolutely "swimming" in inventory.....therefore the whole industry had to be going to hell in a handbasket,and as a result he had shorted all the major boxmakers plus Intel....BIG TIME.

Well he was right. Retail sales were soft....there was lots of inventory. But he forgot, or didn't know, that retail sales only comprise 16% of total computer sales. The other 84% that were in corporate, gov't and education were growing like a weed!

As a result, when these companies reported their quarters, and blew away their estimates, poor old Fleck took a major sh*tkicking. And of course then came the old familiar excuses......"yeah, but Intel cooked the books and Compaq stuffed the channel".......yadda yadda yadda!

So once again, about a month ago when Intel was at $70 he proudly announced to "Fleck's flock" that Intel was his largest short position. Ummmmmmmmmm.......well, you know the rest.

Ian
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