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Technology Stocks : Stock Swap

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To: jd who wrote (16304)	3/12/1999 2:25:00 PM
From: Andrew Vance	Read Replies (1) of 17305

AV --LRCX, KLAC, and NVLS have all been whipsawed for the past few days. Up and down close to 10% at times. Personally, it doesn't make sense to me so I only offer the following rationale. The skittish nature of the market, media, and analysts have created an aura of uncertainty. Every day there seems to be caution or exuberance in the technology sector. PC demand is slowing vs this only being the slow season. IC demand is growing but then PC demand is slowing. The future is bright but we are starting to see pre-announced earnings warnings coming out. The word "Directionless" is the operative term, along with "schizophrenic" behavior of the market mavens. It is the opinion of the day club. Throughout all of this, the most unlikely sector has been consistent with the attitude of "going to the moon". It is the one sector that has neither the revenues or earnings to justify the multiples they are selling at. Of course we mean the Internet sector. RadarView readers have been able to ride 3 or 4 of these recently for "unexpected windfall" gains with limited downside exposure. AV

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