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Technology Stocks : General Lithography -- Ignore unavailable to you. Want to Upgrade?

To: Brad Rogers who wrote (854)	3/5/1998 9:10:00 AM
From: Mason Barge	Respond to of 1305

AMAT is holding up fairly well in pre-opening trades -- last trade at 33 3/4.

To: Brad Rogers who wrote (854)	3/5/1998 10:06:00 AM
From: Andrew Vance	Read Replies (2) \| Respond to of 1305

I have only had a chance to talk to a few people so far. It just amazes me that INTC drives the World Markets because that is what has happened. INTC pre-releases something non positive and all hell breaks loose. How many sectors are there to the market and how many of them rely on computing power? Think about about it. Computers are still considered luxuries, not necessities. Lot's of Xmas buying due to good prices and so a little tailoring off after XMAS, and BOOM!!! Everything has tanked because of this announcement YET, if you read the annoucement you see 2 glaring things: charges for the CHPS acquisition and higher R&D spending. YES, that means they are buying equipment and at a higher rate than last year. I am fed up with the market herd mentality. I give the boys on the street the "Stupidity Award" for 1998. As a matter of fact, the guy at Bear Stearns who downgraded INTC AFTER the announcement by INTC, should be embarassed beyond all belief, fall on his sword. What will be interesting to see is if the fool that upgraded MU yesterday chnages his mind and now downgrades it. Bottom Line: we are getting a haircut. I am better positioned than I have ever been, though. I have more puts and calls than I have ever had in place, I have little to no margin used, and even some cash on the side. Yes, I bought INTC today. Why??? This is a glitch and I will wait for the recovery. Everyone now sees the inefficiency of the market. One company, INTC, Rules the destiny of the world markets and economies. Their "woes" sparked new concerns about the Asian Crisis. No tell me, folks, how does INTC affect SWY(Safeway Food Stores). SWY had a 2:1 split and its 5 graph is an ascending pattern with no real reversal. I say this because the food business doesn't give a hoot about how many microprocessors are sold worldwide. You buy food when you are hungry. Using this line of thought, who cares how many CPUs INTC sells as long as the still are buying equipment for the next generation of products. How many times has INTC not met expectations only to bounce back the following quarter. Give me a break, we needed an excuse to give the prophesized CORRECTION. The self fullfilling prophecy is not coming true. We are approaching "triple witching" and report cards are due. We had a good 2 months of run ups in excess of 20% so it is time to stick it to someone and move on temporarily. Major manipulation of the market with the big boys on the side. Now the small investor will take it in the shorts, drive the prices down a few percent. This will allow the big guys to get back into the stocks before the close of the month to allow them to show their customer base a slick portfolio in their quarterly report cards. And of course, as soon as they have re-established positions, we will see the upgrades once again. However, this time my timing was not so bad. I will be busy today and tommorow manipulating the Puts and covered Calls and use the proceeds to average down on some of the gems. Andrew