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To: Sam Citron who wrote (6218)	7/1/2003 4:00:39 PM
From: Return to Sender	Read Replies (1) \| Respond to of 13403

OT: >Someone tell me what is happening.< The market was short term oversold. Far too many puts the last two days even if some of them were huge individual positions. Today 1600/1598 held again on the NASDAQ so with the TRIN back over 1.50 earlier today (its five day moving average) the easiest place for the market to go was up. Oh, and naturally we are seeing short covering again. Just my thoughts. RtS

To: Sam Citron who wrote (6218)	7/7/2003 3:12:16 AM
From: Sarmad Y. Hermiz	Read Replies (1) \| Respond to of 13403

OT, Sam, I have some idea why speculators have decided to pile into wdc/mxo/stx. I think that shorts are giving up on the prospect of a collapse of disk-drive prices. Suppliers have gone out of business. Drive makers are facing less competition. There has been no investment in this business in years. And demand is exploding. I think the long-awaited revaluation of profitable companies to a more suitable P/E - like 15. Anyway, if my sentiment counts for anything, I am now at a high watermark as far as number of shares owned. And I continue to expect that WDC proper price is a P/E of 17, for forward earnings of $1.30 in 2004. In the new spirit of market humility, I'll say that I could be wrong, and often are. I've been on vacation in sunny southern California for a couple weeks now. Hence late reply. I guess wdc is doing quite fine without my doting encouragement. Sarmad