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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Chuzzlewit who wrote (19214)	10/27/1997 12:19:00 PM
From: jim kelley	Read Replies (3) \| Respond to of 176387

Paul, IMO, the price moves of the technology stocks over the past few days has more to do with the southeast asian situation than it does with DELL or CPQ's stock being overvalued. BARRONS has been pushing its most bearish scenario this weekend with Fleckenstein's invited interview. This guy offered little probative analysis and bashed the tech stocks including DELL because he is a hedge fund operator and gets most of his money from those who are largely long the market and want to hedge their long positions. He had few facts and several significant errors in his understanding of the PC box markets. He and the bears are piling on to take advantage of the S.E.A. easy credit and overproduction problems. Fleckenstein believes in manipulating the market market by spinning the news and creating FUD. There are a lot of people like him. What is going on in southeast asia is the cause of the current market situation. The Chinese have a hugh inventory glut. They have an overcapacity problem. They are looking for places to dump their inventory. They are comming here to the US to see if they can get Clinton and congress to let them dump a lot of their excesses on us. Forget about open markets in China, it is not going to happen anytime soon. The chinese home market is in for a major correction of its own. They are going to have large scale unemployment in China and their growth rate is going to slow dramatically. The Chinese will offer to let a few dissidents go in return for the right to dump more of their inventory into the US market. The current situation will sort itself out within a few days as people grasp what is really going on. Regards, Jim K.