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

To: nealm who wrote (1567)	3/7/1998 10:25:00 AM
From: joe smith	Read Replies (2) \| Respond to of 2389

nealm, take a close look at the interday graph of altr on fri. up 2 plus points on decent volume. it then had institutional orders going thru one after the other. the price of stock was held up somehow above two. i read it as big guys bring up the price and then start dumping shares. i shorted more at 42 as soon as i saw this at about 10 am. its hard to go against the trend, but the ticker told me something smelled of rats. i felt better throught the day as the semiconductor index continued to rise and altr slowly drifted lower. it did get a pop near the end of the day to cause me some concern. then cpq saved the day and warned of flat sales and no earnings for this quarter. techs will get toasted monday. this time i don't expect the market to bounce back so quick and with more warnings coming, altr could be headed back to 29/30 or worse. it wont happen all at once unless altr comes out with a warning of their own. look in altr's profile and you will not see revenues and eps of a company that deserves a multiple of 28 times earnings. id say 20 is more realistic. js