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To: Glenn D. Rudolph who wrote (87083)	12/11/1999 1:06:00 AM
From: Bill Harmond	Read Replies (2) \| Respond to of 164684

Rick Whittington's comment on Micron 12/10/99: Micron (MU, $63.50, Strong Buy) is caught in the fury of what we've called the "spot du jour" mentality gripping the trading community. This has left the stock a sideways performer in a great semiconductor tape. Our strategic case for the stock has fallen by the wayside as spot surges after the Taiwan earthquake have evened out to the downside now that the Christmas build has subsided. We believe that investors should be focusing upon raging Internet server and PC access demand being daily validated by the dramatic re-ascent to new highs of a very broad-based group of Internet stocks. Since the Internet is the Windows of the new millennium, we're going with the DRAM unit demand bull case for 2000. Once the season comes around, investors will see the extent of Micron's building technical and cost leadership over all comers and focus on profits.

To: Glenn D. Rudolph who wrote (87083)	12/11/1999 3:16:00 PM
From: GST	Read Replies (2) \| Respond to of 164684

Glenn: If I have a bank account with money on deposit, and if I decide to withdraw money from that account, there is no increase in money supply -- I have changed my money from one form to another -- from deposits to paper. This is, I believe, what you are talking about. What the article I posted is talking about is an additional $196 billion CREATED in deposits by the Fed -- this is liquidity. This is not merely having more cash available to change money from deposits to cash. It provides the fuel that launches rockets in other parts of the economy -- the stock market. If you look at the ramp-up in liquidity and the ramp-up in the Naz -- well, unless you are William, you will see that there has been a lot more fuel on the fire for the past few weeks. If it is Y2K fuel, where do we go after the party?