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To: MonsieurGonzo who wrote (13932)	11/10/1997 7:12:00 PM
From: Judy	Read Replies (1) \| Respond to of 50167

Steve, intermediate trend support can be overridden by fundamentals. 30 will hold for AMAT unless AMAT says semi rebound stalls for two quarters. Just like the intermediate supports for APM, WDC, SEG meant squat with the IBM and RDRT announcements, etc. The short-term trend is down, and mid-term I not sure the market has decided. On that note, shall we compare notes? What do you see as intermediate supports for CPQ, INTC, CSCO, LU?

To: MonsieurGonzo who wrote (13932)	11/11/1997 6:39:00 AM
From: Arik T.G.	Read Replies (2) \| Respond to of 50167

Steve, Good post, thanks. INTC IMO has no reason to trade over 80. I have no idea if there's any downside left but 4th Q prediction by the management (on 3rd Q report and repeated in the analysts meeting) suggest to me that the upside (if any) will have to wait till next year. Chances INTC will trade for $85 again this year are IMO slim. Therefore I recommend writing call 80. AMAT - donno. I remember one of Eng's rules for trading saying "Don't buy a stock just because it went down a lot from it's high." DELL- Belongs at $65 if everything is as great as the hype would lead us to believe. $40 if it's just a very good company. Trend is down and support at $63 is the only one around. MSFT - The gap at $100 is still waiting to be filled. MSFT has weathered the down pull of the market better then most stocks. However, it is starting to crack at the seems. 5 EMA has stayed below 21 EMA for too long now, and the graph looks like KO (another bellweather) did in July at 68 before it took a big hit. I'm not saying that it will, but pointing for a good chance that MSFT will take a fall, and if it will, that it should close the gap at 100. So my recommendation is buying naked Dec 120 puts which pricing does not reflect this possibility. Closing if the stock reaches 135 again. IMO the odds of x10 gain are greater then the risk. Disclaimer: 1. I'm a lousy trader. 2. I'm fond of long shots. 3. I'm still very bearish on the market. 4. JMO- not intended as investing advice. 5. I own MSFT Dec 120 puts, and lost on Nov 120 puts. ATG