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To: Gottfried who wrote (6976)	1/9/1998 2:23:00 PM
From: LK2	Read Replies (1) \| Respond to of 9124

*OFF TOPIC* GM, if the number of mutual funds that own AMAT is growing every week, as reported by Investors Business Daily, then why is the stock price dropping? Normally, I don't pay much attention to ideas like buying pressure/selling pressure, but I think the basic idea holds true (I just can't find any way to use it). But if the mutual funds are really net buyers of this stock, who is doing the selling that is driving the price down? Any data reported in Investors Business Data--as far as mutual fund holdings are concerned--is probably on a 1-, 2-, 3- or more month delay. On a practical basis, most mutual funds won't disclose their current holdings in any detail. And they are increasingly reluctant to tell any details even on a quarterly reporting basis. I'm talking about actively managed stock funds, not the index funds. Trying to find out what stock funds are currently buying and selling is a guessing game, and you need to subscribe to special newletters to get the experts' guesses on what stocks funds are currently buying and selling. Whether it's worth the subscription price for any of those newsletters that try to track mutual fund stock selection, is questionable. -LK I wouldn't put much value on the IBD report you cited.

To: Gottfried who wrote (6976)	1/9/1998 2:43:00 PM
From: Rob S.	Read Replies (1) \| Respond to of 9124

We've already seen 10% in many of the equips just today. I think tha there is a very good chance they will be down, counting today, by 20%-30%. The mutual funds may have been buying recently but they have likely been looking at the earnings foprecasts which are now in the process of being chopped in half or more. I can kick myself for not having shorted the sector and still think it is safer to short than to go long in the sector - ". . the trend is your friend".