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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (32263)	8/24/1999 3:47:00 PM
From: Jeffrey D	Respond to of 70976

Ian:<<Isn't this the same set of turkeys that wanted to sell us a report last month that hypothesized that the whole chip and chip equipment world was headed for the toilet?>> Yes, Ian, it looks like the same cast of suspects.<gg> Jeff

To: Ian@SI who wrote (32263)	8/24/1999 5:08:00 PM
From: William Griffin	Read Replies (1) \| Respond to of 70976

Can anyone enlighten me as to why this analyst seems so sure the Fed's not going to raise rates against this year? I guess it has something to do with y2k. But I fail to see the logic, at least not very clearly. DJ Prudential's Wachtel: Take Advantage Of Sell-Off NEW YORK (Dow Jones)--The market has already factored in an interest rate hike and there is a temporary sell-off of blue-chip stocks that investors should take advantage of, according to Larry Wachtel, market analyst at Prudential Securities Inc. This is the last chance for a rate boost this year, Wachtel said in a CNBC interview, because at the next Federal Reserve meeting in October the market will be preoccupied by millennium bug fears. Raising rates will then be futile, Wachtel explained. Wachtel sees opportunities in semiconductor companies, such as Applied Materials Inc. (AMAT) and Novellus Systems Inc. (NVLS); drug companies including Schering-Plough Corp. (SGP) and Pfizer Inc. (PFE); and oil companies like R&B Falcon Corp. (FLC) and Halliburton Co. (HAL). Wachtel, however, advised against investing in cyclical stocks, particularly those of paper and chemical companies, although he said he still likes retail companies such as discount-retailer Dayton-Hudson Corp. (DH). -Zahida Hafeez; 201-938-5176