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To: Cynic 2005 who wrote (80458)	12/20/1999 1:52:00 PM
From: Rarebird	Respond to of 86076

< What is your target on Puma under the following conditions: 1) BK 2) No BK. 10% pullback and another 40% ascent. 3) Grinding Bear > Puma is a little different than the average internet stock. First of all, they have earnings.( 11 cents last quarter) Secondly, they have no debt. Thirdly, they happen to have the best web browser( and servers) for the Palm Pilot which supports SSL technology. With all that being said, scenario 1 and 3 would destroy Puma's share price. But I think you knew that already. Given scenario 2, Puma could easily reach 200 and possibly 400. The wild card is that Microsoft is coming out with their Mobile Internet Explorer next summer. If history repeats, PUMA could get squeezed and their share price smashed unless MSFT buys PUMA, which would make more sense for MSFT. Hope this helps somewhat. Otherwise, Life has been good. I played the techs ( mainly the semi equipment companies) until recently. I went short the SOX today at 662. I may yet burn in Hell for that! The family is good.

To: Cynic 2005 who wrote (80458)	12/20/1999 3:27:00 PM
From: Rarebird	Read Replies (1) \| Respond to of 86076

Nothing to worry about here. Just BUY BUY BUY: Santa claus will never stop coming to Wall Street: S&P: US COULD SEE STOCK, BAD LOAN-LED CREDIT BUST HONG KONG (MktNews) - A report released by credit rating agency Standard and Poor's Monday stressed the U.S. economy is vulnerable to a stock-led credit bust and as bad loans in the system build up. The report, covering various economies, is called "Global Financial System Stress: The Weak, the Vulnerable and those Limping Towards Recovery." The report said domestic credit to the private sector and non-financial public enterprises in the U.S. has grown rapidly in recent years, rising from 101% of GDP in 1995 to 136% by year-end 1998. Nonperforming loans at many of the country's largest financial institutions are increasing at a modest pace, it noted, reflecting the aging economic cycle. Several sectors, including telecommunications and health care, were highlighted for their rapid growth and higher leverage. "Real estate investment trusts and high-yield portfolios also pose a concern," S&P said. S&P added that a recent review of large syndicated loans at banks by the Federal Reserve "suggests a two-year trend in increased problem loans, albeit off of historically low levels." Given the extended duration of the economic expansion, commercial portfolios are "likely to have overly optimistic projections embedded in their repayment scenarios," it added. "These portfolios are not likely to perform well in a weakening economy." While the banks' consumer portfolios have stabilized, a generally high level of consumer debt and its rapid growth over the past decade "make a potential recession more troubling." The report also highlighted concerns about the prolonged rise in the stock market, which is being driven, in part, by optimistic projections on technology stocks. "The resultant asset valuations have been driving high levels of consumer spending; a sharp correction in the stock market could lead to a hard landing for the economy and, thus, for the banks' portfolios." --Market News, Hong Kong (tel 852-2528-6038) email matthew@mktnews.com 07:16 EST 12/20