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To: JakeStraw who wrote (8616)	7/6/2001 3:37:51 PM
From: Jacob Snyder	Read Replies (1) \| Respond to of 10934

I think that talk about "immunity" has about run it's course. I can't think of any remaining sector or stock about which investors are still claiming "immunity". EMC management has lost a lot of credibility, with their statements over the last 6 months about sales and profits holding up, and then yesterday's warning. It means investors may not believe them when they start making optimistic noises. Nothing nefarious about it, I think they just couldn't believe how bad their business had got, and how quickly. Lots of managements had that reaction to this downturn, and the analysts faithfully parroted those reassurances.