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To: IQBAL LATIF who wrote (34645)	10/11/2000 1:43:10 PM
From: James C. Mc Gowan	Read Replies (1) \| Respond to of 50167

Greetings IKE: picked up some more ARMHY at 29 this AM; stellar earnings, and this is a very high P/E stock so it has sold off going into Eps announcement. I am curious if your contacts in the pits have a sense of the action today; the gap down was filled, so I presume the institutional shorts covered at about your 1349 interday low. Any idea if they are going to load up on shorts again, just to work us around some more<ggggg> Still buying OOM puts to protect my long positions, like you have always recommended and it still works out, especially when fear is rampant. Do you think this technical damage will prevent a near term earnings season recovery of some sort? I have the sense that Technical Analysis is being worked by the MM's a lot these days, especially on tech stocks, with quick runups to show false buy signals,and quick rundowns to show false sells. Best wishes to you and the boys. James

To: IQBAL LATIF who wrote (34645)	10/11/2000 2:11:02 PM
From: Peace	Read Replies (4) \| Respond to of 50167

Ike, It's all a matter of sentiment. Last week CMGI CEO bought 250,000 shares but the stock kept sliding with the market. Picked up VTSS yesterday in AH at the 67 handle, now 82. Bought NVLS calls this morning. Peace LU warned. Every qtr when LU warns VTSS gets hammered (LU being their customer) but recovers quickly. The company has already stated positive results at a recent conference. Down 10 in AH after being down 13 5/8 for the day a great buy here.