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To: E. Graphs who wrote (7394)	10/24/1997 7:48:00 PM
From: shane forbes	Read Replies (1) \| Respond to of 25814

-- off topic -- E! semi-equip investors are in "panic" mode now. And you know what that means - sell, sell, sell - at any price. I've been blown away by the degree of shares traded in the leaders such as AMAT. The pushouts in building and capital spending are real (and once again the LSI forward indicator has proven right although this time I think it is more luck than anything else!). DRAM shows no sign of stopping its fall. These DRAM guys are losing so much money it's not even funny. Yet the fuel to AMAT's 1-billion in revenue per quarter this year was primarily logic and microprocessor companies. DRAM companies made "selective" purchases. Perhaps what will slow things down is some of the big DRAM companies saying that they will stop production for awhile. The valuations have been crazy. Bought AMAT at 16, sold at 35, it ran up as high as 55 and now in the span of a few weeks we are down to 33. Unbelievable. Maybe the AMAT conf. call sometime 2nd Nov. will allay these fears and cause a turnaround. Yet, as I mentioned some posts back, the pushouts by logic people if real (and LSI and INTC confirm) is a very bad sign for the semi-equip people and more and more of the flock of sheep will head towards the exits as the next couple of weeks unroll. IMHO. Plus the further they go down the more the analysts will come out with downgrades! Kind of like a runaway bus steamrolling down hill. + I guess we have to watch the DOW and the 7,600 level. E! the only good thing in all of this is the bond yield going down. Sometime, hopefully soon, people will realize the fundamental factors driving the US economy have not changed and the overall market will respond. Funny to see that what was considered a strength - overseas presence and expansion - is now considered a reason to sell. My guess is the market is using this as a reason to lock in large profits. These kind of days show why the Buffets and Lynches of the world don't invest in tech companies! Emotions go to the extreme (to say the least). Do you think LSI will ultimately get whacked? If this sector-wide selling goes on it will get whacked eventually I think. Who's going to step up to the plate and buy these days? Not the scaredy cats that's for sure.

To: E. Graphs who wrote (7394)	10/27/1997 12:42:00 PM
From: shane forbes	Read Replies (3) \| Respond to of 25814

E! I just sold off a good chunk of my (margined) portfolio this morning before the open at about break-even. Had to so that I could sleep easy at night. Now no more margin concerns etc. Now I just ride this out and buy if and when the madness ends. My sense as I mentioned a few days ago is there is blind panic going on - the degree of declines in the 70 or so stocks in my watch list are truly amazing. Fear. What are you up to these days? I'm sure some smart trader types must be making out like bandits... DOW at 7,600 just fell. NASDAQ getting raped. see ya. Blame all of this on OSO dlo - he leaves the board and out goes market suppport!