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To: Char who wrote (61)12/20/1997 9:06:00 PM
From: Zeev Hed  Read Replies (1) | Respond to of 135
 
David, I am still waiting, I have been in but bail out when I stated on this board that the gap will close. At that time, I thought it would bounce from the 20-22 range, but I was wrong. That is what I mean by not knowing a priori the bottom. To my crdit, I did say this bounce would be temporary and that the book value or lower might (lousy tea leaves, they could not say "will") be rvisited. So far my general scenario from late September is still playing out pretty well,
so I'll stick with it. Meaning a low late Feb to Ides of March, rebound in Spring and retest of the low with a possible minor breach and then a powerful summer rally. WFR will probably follow the group rather than lead it, so we will have ample time to see what INTC and AMAT are doing.

Zeev