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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Gregory S. Wagner who wrote (84771)	7/1/1999 3:17:00 PM
From: L. Adam Latham	Respond to of 186894

Greg: Re: What's behind the rally. Is it a "sucker" rally or is there something going on? I'd appreciate any comment. I'm a long. Most likely caused by Lehman Brothers (from TSC midday news): Thursday's Midday Movers By Heather Moore Staff Reporter Members of Lehman Brothers' (LEH:NYSE) "10 Uncommon Values" stock list were benefiting solidly from being anointed as such. (TheStreet.com looked at the absence of traditional value names on the list of values in an earlier piece.) o America Online (AOL:NYSE) was up 4 1/8 to 114 1/8. o AT&T (T:NYSE) was up 1 13/16 to 57 5/8. o Firstar (FSR:NYSE) was up 15/16 to 28 15/16. o Ford (F:NYSE) was up 1 3/8 to 57 13/16. o General Instrument (GIC:NYSE) was up 1 5/8 to 44 1/8. o Intel (INTC:Nasdaq) was up 1 7/8 to 61 1/2. o KLA-Tencor (KLAC:Nasdaq) was up 5 1/8, or 7.9%, to 69 15/16. o Eli Lilly (LLY:NYSE) was up 2 5/16 to 73 15/16. o Microsoft (MSFT:Nasdaq) was up 3/16 to 90 1/2. o Tyco International (TYC:NYSE) was up 1 1/8 to 95 7/8. Adam

To: Gregory S. Wagner who wrote (84771)	7/1/1999 4:13:00 PM
From: Jeff Fox	Respond to of 186894

Greg, re:"is there something going on?" I guess that it is largely an interest rate move response triggered by the Lehman Bros. press release. Is it a sucker rally? Well, it is definitely the "summer" rally. I suspect some analyst will try to throw on the cold water next week. After all, Intel earnings can't be good, right? Just look at AMD. Of course this is the same act that's played out every quarter - after quarter - after quarter and so on... Intel will report great earnings. Then the chant will start about it being too good and not repeatable, etc, etc... Jeff