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To: Kevin who wrote (30952)	12/11/1997 12:42:00 PM
From: Electric	Respond to of 58727

**IBM** Take a look here Kevin... Merrill Lynch cut its fourth quarter earnings estimate on shares of International Business Machines Corp to $2.20 a share from $2.26 a share, based on the weak yen and slower personal computer demand in Japan, a market source said on Thursday. -- Merrill, which later confirmed it cut its fourth quarter estimate on IBM, said in a research note it reduced its revenue growth assumption but saw an eight to nine percent local currency gain. -- Lowered 1997 estimate to $6.24 per share from $6.30 per share, while maintaining its accumulate rating. -- ''Issues include the strengthening dollar/yen, flat PC sales in Japan and international pressure in disk drives and DRAMs (dynamic random access memory),'' Merrill said. -- Positive factors could include services, software and servers, it said. -- Merrill also said believes tax rate could come in below level most Wall Street analysts are expecting. -- Says much of revenue growth estimate reduction due to weakening yen. -- PC demand in Japan is poor, Merrill said. But said IBM should still outperform most vendors in Far East. IBM might be one of the last to fall... it is a light downie, but maybe more to come.. keep Kurlack locked in the closet, you hear???? E

To: Kevin who wrote (30952)	12/11/1997 12:46:00 PM
From: Patrick Slevin	Respond to of 58727

<in some cases I really want / need someone to disagree with me.> I don't mean anyone here or on SI. I've built up a network of phone/fax/e-mail contacts over the years and when I say no body...I mean no body...not one. Now that really makes me stop and think. Particularly, like Nemer, I've been told certain supports would hold, like DJIA 7840 for example, and they have -- so far. Although I try to be flexible with regard to the reality of what the market is doing, in this case I'm gonna "Dance wit' da gurl what brung me", if you know what I mean. I am on the alert for an upside reversal and have a profitable day so I have some leeway.