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Technology Stocks : Intel Corporation (INTC)
INTC 48.76+10.9%Jan 28 3:59 PM EST
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To: Jim Garrison who wrote (12608)2/27/1997 7:28:00 PM
From: Frank Ellis Morris   of 186894
 
Jim, I am not buying anything right now as I am fully invested in the stocks you mentioned plus a couple of dozen other stocks. Although I hate to see my paper profits deterioate at the rate of almost $10,000 a day, I do not want to have to deal with paying taxes on capital gains.

The remarks made by ALAN GREENSPAN are WRECKLESS, STUPID, and MANIACLE. Somebody should put this lunatic in a cage and the President ought to fire him for abuse of office. It is not the business of Greenspan to make radical remarks about the stock market anymore than it would be for the President of the United States to do so. Agitated by the market shrugging off his remarks made in December, Greenspan just had to make his lunacy clear once again. I am sure that he is feeling very good having caused the present bebacle.One way or another we will prevail and eventually throw the fox out of the hen house. As for the immediate picture, I cannot attempt to guess, but I would not discount the country being thrown into a recession if Greenspan keeps that mouth of his going.

It is not my philosophy to try and time these gyrations, as I am a long term investors. I think the price you have to pay is the time to time wild downdrafts that are manipulated or for other causes. Staying fully invested is the road to wealth.

Good luck to you as in the short term we are really going to need it,

Best regards

Frank
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