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To: The Ox who wrote (5740)	12/2/1998 11:59:00 PM
From: Alski	Respond to of 14427

Michael, I think it might be a wee bit premature to short EMC just now. Yeah, it's a bit over fair value and yeah, it's doubled in two months. But it is THE leading server storage provider and the explosion in e-commerce and continued growth in corporate networks are only going to fuel its fire. It has a history of beating expectations, anal-ists love it, and the technicals are all still pointing up, albeit maybe a bit over bought. It needs to rest here but I'm not so sure about a meltdown unless the big LT finally shows up. Even then, I bet there would be better shorts. I'm not so sure about NVLS being all that great a short either. It's technicals aren't so strong right now and it needs to pull back a bit but cut in half, I don't see it. Yeah, earnings are going to be down this year and next, but not as much as predicted. And yeah, semiconductor equipment orders probably won't snap back as in past cycles and the switch to 300mm fabs is going to hurt future volume (but help margin). But none of that is any big secret; probably already discounted. Again, I don't see a pending meltdown, barring that big LT. As always, I do reserve the right to be wrong. IMHO...FWIW...Alski