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Technology Stocks : Atmel - the trend is about to change -- Ignore unavailable to you. Want to Upgrade?

To: Michael Sphar who wrote (7970)	3/4/1998 6:17:00 PM
From: Bruce Tiemann	Read Replies (1) \| Respond to of 13565

"won't even reach the depths tested back in Jan" ... but Intel warned after the bell... things are going to be pretty bloody for all techs tomorrow, and maybe the whole market, since the massive Jan-Feb runup has yet to incur a correction, and some things like AOL and AMZN are just asking for it. I'm not long or short, but might go long soon. Bruce Tiemann

To: Michael Sphar who wrote (7970)	3/4/1998 6:30:00 PM
From: Frank Chen	Respond to of 13565

Mike, I do think it will break down to the 10-15 range. And the possibility for it to reach 10-13 is very high IMHO. Fortunately, I do look beyond the current bloody picture. You have to realize that INTC and AMD are both pulling out of the flash business, Korean and Japanese are holding back new Fab construction. The supply is going to be short in 3-6 month time, considering the demand is still growing at 40% YTY. Besides, DRAM price are firming recently, I deem that an early indication that flash is also turning around soon. However, the street perception of this company is very negative at the present time and probably will last for at least three months. Expect the stock to languish down below 15 before any bottom fishers show up. I do think the valuation is out-of-whack if it hits below 15. But I will stick to my earlier range. I could buy at 15 several months ago, why wouldn't I wait any longer? I didn't buy today in expectation of further drop. If there's indication of turn around, I'm willing to pay even $20 for it to catch the momentum play. I won't miss it if there's a true turn around. Frank