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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.53

-1.5%

Nov 20 4:00 PM EST

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To: dennis michael patterson who wrote (10346)	4/8/1999 9:42:00 PM
From: John Pitera	Read Replies (1) of 99985

I can see that you are not worried about PEI's talk of today being a top for the first 2Q's of 1999 . EMC has had a great run. You know with EMC they have sold massive extra storage to most of the big companies that have had to run 2 parallel software systems, One that is Y2K compliant and the one that has not been fixed. When companies drop the old system and just use the Y2K compliant system, there may be a big overhang of extra storage space the companies will have. If this occurs the orders for EMC will not be that great for 3 or 4Q's as the excess capacity is absorbed. The Y2k situation may have accounted for part of the huge revenue run that EMC has experienced. If this is the case it will parallel the ERP stocks, such as SAP, PSFT, BAANF, JDEC, etc who had huge Y2K related surges in spending in the second half of 1997 and 1998, and now thye are suffering due to all that revenue drying up. Just wanted to mention that to you John

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