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Technology Stocks : PSIX up 26.5%, Takeover(?) -- Ignore unavailable to you. Want to Upgrade?

To: Richard Makowiec who wrote (1718)	1/3/1998 2:54:00 PM
From: wtett	Read Replies (1) \| Respond to of 5650

Rich, I can't help but disagree with your statement that Schrader would sleep well with the stock at 2.00. The proxy statement discloses that Bill owes Merrill Lynch $4 million secured by 2 million shares of Psi. At $2, Merrill has already called for substantially more collateral. Many an insider has lost substantial positions by pledging their securities and then having them sold to pay debts. Trust me, he will not be sanguine at 2.00:-)

To: Richard Makowiec who wrote (1718)	1/5/1998 8:30:00 AM
From: Fenton White	Read Replies (1) \| Respond to of 5650

We, us, more than just me which includes my clients like you expect PSIX to lay around for a while. We which includes I look for a six month stay in this stock. The bulk of our plays are on cycle and options we may stay in a stock 6 months and cycle profits 6 times. We generally hedge with options on the first cycle to limit risk. JBIL for example we started shorting at 48 and continued to short blocks up to 70. We have cycled this stock 8 times and played options 3 times. We are expanding AOC short and continue have recently been in luc and currently own stocks like cmel and tlsp. We have looked at the numbers and have been researching AOC for 5 months. PE is completely out of line and return has been generated through acquisition. Germany has substancial property loss due to weather. Industry reports (europe) indicate shrinking margins. It may take another 2 or 3 months for the bottom to fall --- we are not in any hurry. If AOC moves up we will short based upon momentum. We are also in a stock MATR - we like the company. Regards, Fenton PS, we like PSIX because of market share. Eventually, someone will realize they need them. We think that if something happens we may not have time to buy in.