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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: Trader J who wrote (22711)	11/10/1999 7:18:00 AM
From: Wes Stevens	Respond to of 56532

It is really hard to tell. There is still about a 1/2 point premium so if it runs to 12 I will get 2 1/2 points.

To: Trader J who wrote (22711)	11/10/1999 8:17:00 AM
From: Norm Demers	Respond to of 56532

J: Check this client list from CIRC's web site. Very impressive. circle.com

To: Trader J who wrote (22711)	11/10/1999 9:38:00 AM
From: NASDBULL	Read Replies (2) \| Respond to of 56532

I'm pounding table on HRBC, go to site www.harbinger.net and check this b2b ecommerce company out, provides trading communities and software solutions. Much better than PPRO and PPRO is valued over 1.4 billion, HRBC is valued around 600 million. NASDBULL

To: Trader J who wrote (22711)	11/10/1999 9:57:00 AM
From: Nicole Bourgault	Respond to of 56532

SPLS Sold 200 shares 19 in 16 5/8. It is very hot this morning. Thanks, Nicole

To: Trader J who wrote (22711)	11/10/1999 9:58:00 AM
From: John Miz	Read Replies (2) \| Respond to of 56532

For your consideration. LTX Corp (LTXX)SemiConductor equipment company. Earnings November 18th. Strong price target and support from Gruntal....$35.00 target... Now only 19.00/share...Good momentum. Strong volume recently. From Gruntal. Raising price targets based on growing backlog and new customers The company is scheduled to release fiscal 1Q00 on Thursday, November 18, before the market opens. Our estimate for the quarter is $0.10 fully taxed versus the I/B/E/S consensus of $0.09. We are looking for revenue of $56.5 million and orders of about $60 million. The company continues to receive key endorsements from its major customers. As LTXX ramps its shipments during the next few quarters, we expect further build-up in order momentum ahead. We are revising our EPS estimates for fiscal 2000 to $0.55 on a fully taxed basis; we are also revising our estimates for fiscal 2001 and 2002 on a fully taxed basis to $0.85 and $1.10, respectively. Please note that the revisions would be increases if they were made on the nontaxed basis of our previous estimates. We are also raising our intermediate price target to $25 from $16 and our long-term target to $35 from $25. Reasons for 1-1 Outperformer Rating Our intermediate price target of $25 is derived by applying a multiple consistent with LTX's peak P/E relative to the last industry upturn in 1995 relative to the S&P index. In 1995, LTX traded at a 12% premium to the S&P 500 multiple. Currently, LTX is trading at a 20% discount to the S&P 500 based on our calendar 2001 EPS estimate of $0.95. If we apply LTX's 12% premium to the current S&P multiple of 25.1x it will imply a 28.0 multiple. Based on our estimate of $0.95, this valuation implies a price target of about $25. Furthermore, we believe there is a potential for strong price appreciation since the company is well positioned to capitalize on the industry recovery with new leading-edge products, improved cost structure, and operating practices.