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To: Joseph G. who wrote (2635)	6/26/1998 11:42:00 AM
From: Cynic 2005	Read Replies (1) \| Respond to of 86076

Looks good. Didn't bet the farm on LLTC, though. After listening to the LRCX conf. call, I have gained more confidence in ensuing tech-wreck - the real one. Put my money where my mouth is - bought some puts this morning on ETEC. EBQ-TF, Aug 30's. I think this stock is headed to teens very soon. Their stock buyback announcement is a scam. Much like Feds intervening in the ForEx. But only difference is that they don't have the deep pockets of the Feds. -g- Besides, it is just an announcement! -MMV

To: Joseph G. who wrote (2635)	6/26/1998 11:51:00 AM
From: Cynic 2005	Read Replies (4) \| Respond to of 86076

The other joe's today's view! Falls short of being bearish! -------- <<This morning's market outlook commentary by Joe Battipaglia was one of cautious optimism. The caution comes in the form of concern over earnings growth of large U.S. Multinational Corporations and its effect on the S&P 500. While the weak economic climate in Asia has had a negative effect on the U.S. equity markets due in large part to a weak Japanese Yen, we do see this situation as improving. Such an improvement in the strength of the Yen would have a stabilizing effect on the rest of the region, thereby improving the margins of U.S. Multinational Companies. The prospects for US equity markets over the course of the year look favorable in our opinion but we may very well have to wait until the 4Q to see any real gains for this year. In the coming quarter, we expect to see sluggish profit performance for the S&P 500 companies with an expected increase in operating earnings of 6%-6.5%; a mediocre quarter by any stretch of the imagination. Thus the Dow Jones will be bound within a range of 8550 on the downside and 9500 on the upside on a near term basis. Yes, the economy is strong, particularly in the consumer sector but profits are hard to come by. We are holding an expectation of 1170 on the S&P 500 by year-end, which is approximately 6.6% from current levels. A combination of better earnings performance during the second half of the year, more stable Asian currencies, and a balancing out of inventory imbalances along with generally positive underlying market fundamentals will allow for moderate growth of the U.S. equity markets this year. >>