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

To: robert b furman who wrote (5617)	9/10/1998 12:33:00 PM
From: William Epstein	Read Replies (2) \| Respond to of 7841

Robert B. Furman; I agree with all you have stated but 1 item and that is that although, the market is not immune to politics The NYSE members ignore it, as much as possible. The market seems to go up and down regardless of the Washington funnies. The reason is simple. The specialists are driven by the dynamics of their own business and use politics only as an excuse to move the market in whatever direction suits them. They try not ot let it interfere with the serious business of making money. Of course recessions and wars are serious business and they cannot ignore those situations. I suspect they will ignore Clinton's impeachment problems like they do, everything else. After all, we all know that they goverment really runs itself and that politicians, in general, are more of a hinderance than a help with exception of the Federal Reserve Chairman. However, that's a subject for a different discussion. On the brighter side, I one more thing to add for which I have no real proof. This is only speculation. I believe that the specialist already knows what the approximate outcome for the first fiscal quarter for Seagate will be. Judging by his behavior, I believe, he anticipates a very good report. He will use this as an excuse to take the price up. I have long suspected that specialists have inside inforamtion regarding earnings in spite of the SEC rules. That is one reason why most large public companies always have an investment banker on the board. In this case the investment banker has become the CEO. About a month ago I speculated that he was put in charge mainly because the stock was in the can and relations with Wall St. needed improvement. A low stock price combined with a large cash position could lead to a hostile takeover. Then they would all be out of jobs. This is the serious politics that interests Wall St. not the other unless it interferes with making money. William Epstein