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Technology Stocks : Apple Inc.

AAPL 259.35

+0.1%

Jan 9 9:30 AM EST

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To: Phillip C. Lee who wrote (18562)	9/27/1998 3:10:00 PM
From: Richard Habib	Read Replies (1) of 213182

Phillip, while I disagree with you that further hedge fund failures would somehow be good for the market, we would probably both agree that for the next couple of weeks until Apple's earnings it's unlikely that we will have any earth shattering failures. LTMC was likely the largest and it appears it's failure has been successfully integrated into the market. The agreement concerning LTCB in Japan (hopefully it hasnt' fallen apart again since I last checked the news)which we both expected prior to Clinton's meeting bodes well for the markets and although Japan obviously has a long way to go, the next couple of weeks should be positive. Combine that with the interest rate cut on Tuesday, generally positive tech earnings from bellweathers and we should have a couple of good weeks, perhaps to 8400 or so. A wild card is the rumor that once the German election today is safely behind us, an international rate cut may be announced which would lead to a huge rally worldwide. The negatives in my opinion are further Dow earnings disappointments, and a lower than expected Fed cut but I'd say we're safe for a few weeks. Rich

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