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To: Tom Trader who wrote (31221)	12/15/1997 12:30:00 PM
From: Muizz M. Kheraj	Read Replies (3) \| Respond to of 58727

OK... As I had expected, we have continued our rally and bounce off the 7785 area on the DOW. The Nasdaq will soon join this rally, either later today or tomorrow and support the DOW's climb back above 8000. We are at the bottom of the NASDAQ's 3 month trading range. A break below this level and subsequent break below 1500 (200-day Nasdaq moving average) will be extremely significant and EXTREMELY bearish if it happens. I do not expect this to occur. Muizz Currently long Intel Dec 70 Calls (picked up this morning at 2 1/4)

To: Tom Trader who wrote (31221)	12/15/1997 12:36:00 PM
From: Jerry Olson	Read Replies (3) \| Respond to of 58727

LOL Yeah you got that right TT...safe haven YAHOO & AOL RIGHT!!!! sure there over valued, actually their pe's are halatious...BUT, what else is any one going to do except play with their computers and surf the net<ggg>>> TT, the techs have not bottomed yet...the fall out is unknown...We could get a nice rally here because of all the bearishness, and because of seasonal factors... but I still think if we go higher thru the Jan effect, after eps, the stocks could really get hammered...By then Co's will have a better sense of what the future has to offer... Far be it from me to tell you what to do...But CPQ as you know announced a 2-1 split, that always helps prop the stock...no real worry with a stellar co like CPQ...esp on down the road...splits are great to play, and yes now maybe own....i'm just lurking around looking for stuff to short....he he he

To: Tom Trader who wrote (31221)	12/15/1997 12:44:00 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 58727

TT FYI.. Monday December 15, 12:16 pm Eastern Time RESEARCH ALERT - Hambrecht on semiconductor makers LOS ANGELES, Dec. 15 (Reuters) - Hambrecht & Quist LLC on Monday cut earnings estimates on some semiconductor makers, citing slower-than-expected recovery in the first half of 1998, excess chipmaking capacity, weaker demand in Asia and slower growth in PC, peripheral and communication products. -- believes many Asian producers of PC motherboards and peripherals are cutting production rates and oder patterns due to their uncertain economies. -- expects high density programmable logic market to see growth of 15 to 20 pct in 1998 versus a previous estimate of 20 to 25 pct growth. -- sees ''numerous earnings estimate reductions'' in the March quarter and the rest of 1998 due to weak environment. -- cut Texas Instruments Inc (NYSE:TXN - news) rating to hold from buy. Reduced fourth quarter 1997 earnings estimate to $0.59 a share from $0.60. Cut calendar year 1998 to $2.57 a share from $2.90 and calendar 1999 to $3.30 a share from $3.70. -- cut Intel Corp (Nasdaq:INTC - news) calendar 1998 estimate to $3.90 from $4.10. Reduced calendar 1999 to $4.43 a share from $4.90. Maintained hold rating. -- cut Xilinx Inc [Nasdaq:XLNX - news] calendar year 1998 estimate to $1.74 from $1.80. Maintained buy rating. -- cut Altera Inc fourth quarter 1997 estimate to $0.39 a share from $0.40. Reduced calendar year 1998 to $1.75 from $1.89. Maintained hold rating. -- CUT LSI Logic Inc calendar 1998 estimate to $1.15 from $1.20. Maintained hold rating. More Quotes and News: Intel Corp (Nasdaq:INTC - news) Texas Instruments Inc (NYSE:TXN - news) Xilinx Inc (Nasdaq:XLNX - news) Related News Categories: EDA, US Market News, computers, semiconductors Help Copyright c 1997 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon Important Disclaimers and Legal Information Questions or