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Technology Stocks : Dell Technologies Inc.
DELL 138.940.0%Dec 5 3:59 PM EST

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To: Ex-INTCfan who wrote (124978)5/16/1999 12:22:00 AM
From: Craig Lieberman  Read Replies (1) of 176387
 
A copy of my email to Pain Webber:

Sirs,
You must be smart trying to depress the price of DELL stock to protect your varied interests.
I can only speculate about what those interests are:
1) You or your large customers sold a bunch of DELL calls for May and you need the stock price to stay low until after
expiration. Will you upgrade immediately again to pump the stock up so they can sell a bunch more?
2) You realize that the earnings are going to be a blow out and need to buy more shares cheap so you can profit from the
explosion upside when the earnings are announced.
3) You believe that by depressing the stock or causing more sector rotation, you make more money on commissions.
4) You have a young (no pun intended) analyst who is trying to make a name for himself by being a contrarian. What will you
do to him if he is proven wrong BIG TIME on Tuesday? Where was his valuation downgrade when DELL was at 110
(pre-spit) a few months ago? With the stock hovering off 35% from it's high, the downgrade on valuation seems both LATE
and LAME if it isn't for the other reasons mentioned.
5) You have interests in other stocks that are competitors to DELL or stand to lose if DELL does well? Have you underwritten
any of the other companies? I'm sure a little research will tell me that.

Anyway you stack it, it seems like manipulation to me. However, I should thank you. By Downgrading and keeping the price of
the stock relatively stable before the earnings announcement, I suppose you lessen the chance of a big dump after the
announcement (sell on news phenomenon).

I don't intend to ever be a pain webber customer. I also don't ever plan to suggest so to any of my friends.
You need a better analyst.
By the way, Nations Bank Montgomery Securities has a better informed report out on the same day. I suggest you look into
hiring them to do your research for you.

Sincerely,
Craig A. Lieberman
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