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Technology Stocks : Lam Research (LRCX, NASDAQ): To the Insiders -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (4136)	6/13/2000 12:38:00 AM
From: Mike Gordon	Respond to of 5867

I've come to the conclusion that all the cash sitting on the sidelines will probably stay in money markets. The institutional managers have been beaten up too much. Those who have gains will not risk their performance money. I suspect they believe the increase in interest rates will have negative effects on the 2nd and 3rd quarter earnings. Based on the behavior I'm seeing today, a miss in earnings is a disaster for the individual equity and a downturn for the industry. I'm of the opinion that we will continue to have upturns but the overall trend will be down until the top capital tech issues achieve a realistic PE. We have heard for the last 6 weeks the outstanding performance of the equipment makers. The articles you reference are a good example. However, look at the performance of these issues today. If you own these guys as I do, covered call writing might relieve some pressure and reduce cost. 5 to 10 points out of the money for July may be interesting.. Thanks for the articles...