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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant? -- Ignore unavailable to you. Want to Upgrade?

To: Scotsman who wrote (3602)	7/8/1998 6:23:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 4697

Scotsman, why do I support 3 months vs next year? Well, first I got to protect my turnips' reputation, they have called this stock to the "T" for more than a year, including the spike to 10 (well it spiked a little lower and did not bounce back that much). The original scenario was for the low in late June (delivered) and then a rally and a retest of the low in late October. Nothing has changed to change this forecast. The decline in the semi might be over by the first quarter in 1999, maybe the second. WFR will "see" that bottom about six months before it happen. Thus late October (which is also the turnips forecast for another minimelt in the market) seems to be the right time. To say nothing has changed is actually an overstatement, the fact that we did not get a real wash out sale at the bottom and that the bounce was relatively tepid (I expected a bounce just to 13, but we ended up a good $1.5 short of that), leads me to think that even lower (only marginally lower) lows could be seen in October. Hopw would you like very cheap bananas at 1/2 book value? That is not unheard of. Zeev Zeev