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Technology Stocks : Avant (AVNT)

AVNT 30.16

-3.5%

Nov 6 3:59 PM EST

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To: tonto who wrote (3292)	6/16/1998 7:06:00 PM
From: PMylnar	Read Replies (1) of 3441

Just found out that the market turned on a "phantom call by Tom Kurlak at Merrill". He supposedly put out another bearish semiconductor overview piece today but in it he said that semis "could" see a bottom by December and that long term investors (ie, those with lots of money and big balls) could start to think about buying into this weakness. By the time the Merrill Lynch salesforce knew what hit them CNBC went out saying Kurlak was showing signs of changing his position and the market took off about 1 hr before the close. Kurlak then held a conference call with the salesforce telling them his view had NOT changed, and in fact, that there is no way he would buy these stocks in front of a turn in business. But apparently nobody cared by then, the shorts were covering, and the E-Trade crowd was buying. Wen morning should be very interesting. Up at the open and sell off after option expiration on Fri. IMOO.

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