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Technology Stocks : RATIONAL SOFTWARE- BUY OR HOLD -- Ignore unavailable to you. Want to Upgrade?

To: diana g who wrote (2510)	7/1/1998 9:48:00 PM
From: John F. Dowd	Read Replies (2) \| Respond to of 3115

Dear Diana: Thanks for the upbeat view. Am a little bit nervous about these special preferreds as they have been the cause of great trouble at other small caps that I have invested in. But you're right after shooting from the hip I went back and checked the latest annual report and discovered that they did not really seem to need the $$. Your suggestion of the preferred as a poison pill is very interesting but it seems that a company of this size would be petty well controlled by the insiders. In fact I thought the insiders were buying it up pretty heavily after it took its big hit last winter. I really don't get it. maybe they want to do a takeover deal and that is the way it will be structured. JFD