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To: waverider who wrote (4376)	10/17/1998 3:35:00 PM
From: RGinPG	Read Replies (1) \| Respond to of 14427

Message 6048996 Message 6047644

To: waverider who wrote (4376)	10/17/1998 4:21:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 14427

Okay 'Lil Buddy - I figure I owe you a ''hanging curve''... ...In the spirit of Game #1 of the World Series where the Yankees will once again establish their superiority in the ''real'' roundball world... Diamond ...here is a ''freebie'' - one that you had better be able to hit out of the infield at least... <VBG>. Broadcom/BRCM; high flyer - a stock that I want to own long; but has the IPO lockup period simultaneously ending with a secondary offering ! I love it at $48-$53 - but @ $70 + ? This is a ''sitting Duck'' that is begging to get shot down. Ohhh how I hate to short, rarely do, but this is a ''gimmie'' imho. - comments on BRCM as a blatant short opp ? I do agree with many here that the overall market's Rally is a ''suckers rally.'' I think the oversold small caps and certain sectors like the Oilpatch (surprise) deserved to Rally fundamentally and are NOT overvalued at these levels, but many stocks and especially some Techs got too hot for their own good. I sold PMCS & VTSS off of this Rally - just too much too soon. Long both longterm, but took profit off the table here. Bluest of Blue Chips/DOW stocks are mostly way overvalued here. PE's of 30-50 in this enviroment are insane. However I can not share the ''World is ending'' and the DOW is going to 4000/1929 scenarios... Without question there are still unanswered questions on Hedge Fund/International Trading losses for many Financial stocks, Japan's Banking reform has to be willing to proceed irregardless of the costs, earnings and near term expectations do not support this Rally, The Fed Rate cuts will help certain sectors immensely - but are basically nothing more than a cushion to allow a soft landing and to establish a ''floor'' under the markets to stop a freefall. I did not understand the degree of the overall markets move that we received.. I see a DOW @ 7250- 7400 with a trading range of a little lower or a little higher - untill all of the above issues are cleared and earnings support a fundamental rally. The Fed Rate Cuts imho - should have stopped us from falling - not sent us into a substantial Rally ? The biggie imho; which I am surprised that you guys don't discuss in all that much detail; is what happens if Clinton goes to a full blown Impeachment ! I will be all cash - Oilpatch stocks included... I could see a panic - not a DOW 4000 panic, but a 1500 point blowoff potentially. Even though technically nothing would change with Gore in office economically, if Rubin & Greenspan remain co-Pilots... I would anticipate an individual investor panic if he gets Impeached.