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To: Sarmad Y. Hermiz who wrote (8884)	4/27/2004 3:54:35 PM
From: Sultan	Read Replies (1) \| Respond to of 13403

OT You are adding to my stress level Sarmad.. So I can just imagine where yours is.. All the best with your position.. p.s. taking a beating today on CAMP.. For any one who cares, I think it is over done but admittedly management did not handle this earning release all that well.. holding my position...

To: Sarmad Y. Hermiz who wrote (8884)	4/27/2004 5:47:00 PM
From: Sam Citron	Read Replies (1) \| Respond to of 13403

OT I was happy to reestablish my WDC position, or most of it, at a 25% discount. It is the only company so far that I have chosen to re-enter since I sold most of my stocks two weeks ago. As you know, WDC hit a new annual low today. Although it has been steadily beating its earnings projections, it has been doing so by smaller and smaller margins lately. I don't have a crystal ball or a great understanding of the industry. If I did, I might be prepared to make more of a commitment, though not at your level since diversification is a religion for me. Just over the past 6 months I have seen one HDD attempted price increase that did not seem to work followed by another that did seem to take hold. Or so I was told 3 months ago at MXO's cc. Inventory levels that seemed modest a few short months ago, analysts say, are now rising. The market as a whole is almost as volatile. Just three short months ago the market was making new highs and the activity in small speculative stocks was enormous. Now many of these companies are off 50% or more from their Jan peaks. The way that the market trashed excellent earnings this Q, with relatively few exceptions, suggested to me that we were in for some rough sailing. It looks to me like investors are concerned by far more than current earnings. Everyone says that it is the inflation bears that have the upper hand right now over the earnings bulls. I'm beginning to wonder whether inflation is really the major concern of investors. If so, it is not borne out by the posts that I read at SI. The biggest phenom I see here is the rise of the Foreign Affairs thread, which has attracted over 130,000 posts since it was started only about a year ago during the blitz toward Baghdad. I have seen some of the smartest and most articulate investors desert stock and industry threads to do battle with the neocons over there. As refreshing as it is to see a stock BB whose most popular thread has little to do with stocks, it suggests to me that this is really a much bigger concern to many intelligent investors than their stocks. Or maybe it demonstrates the power of the escape valve, since such speech would be suppressed, or at least frowned-upon, by most other threads, as distracting and politically contentious. In any case, I think the 2004 US presidential election will be a watershed event that could have a profound effect on the market. The market tends to dislike uncertainty, and this election year looks anything but certain. Sam