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To: CrayUSA who wrote (8468)	6/20/2001 4:03:24 PM
From: JakeStraw	Read Replies (1) \| Respond to of 10934

>> Good argument for bottom on NTAP here. Only if NTAP does not lower guidance...

To: CrayUSA who wrote (8468)	6/20/2001 5:28:45 PM
From: Jacob Snyder	Read Replies (2) \| Respond to of 10934

re: Market is also leading indicator. We had big rallies in the Nas in the summer of 2000, and in January and April of this year, and lots of people were saying, "the bottom is in, stock prices are anticipating a recovery in the fundamentals 6 months out". NTAP is near a bottom if (big if) business spending rebounds by early next year. If not, there is substantial downside left. Anyone buying today, should be prepared to hold even if the stock hits 5. And companies who warn once, usually go on and warn again. Look how many times LU has warned. The best argument for buying NTAP now is: 1. there isn't more than 12 points of downside left, and 2. they will be a survivor once the downturn ends