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To: BostonView who wrote (3110)	1/20/1999 5:16:00 PM
From: Marq Spencer	Respond to of 5232

BV, CA closed up today while BMCS, CPWR, and NETA all struggled tremendously. I think that CA would've had a much better day, but for these others pulling down the management solutions sector. Three different analysts upped targets for CA. I think that unless the market tanks, we're looking at mid 50's soon. - Brian.

To: BostonView who wrote (3110)	1/20/1999 5:51:00 PM
From: David Mullins	Respond to of 5232

I have to agree, I did basically the same thing; sold half of my options(deep in the money). The great thing with them is they weren't deep in the money when I bought them (gloat)! While there is a possibility that CA goes up over 50, I think this market tires and takes CA back down to 40. Then it'll be time to load up again.

To: BostonView who wrote (3110)	1/20/1999 7:04:00 PM
From: Edwarda	Read Replies (2) \| Respond to of 5232

"It looks like the whole sector is coming under a cloud of uncertainty...." I'd have to agree--except that the sector has been under a clould since CA warned that the high-end mainframe software faced a slowdown. (For which the management was reviled, remember?) I found it interesting that although mainframe revenues were down 8%, they were higher than I expected and than most of the Street expected. And note that the company made the numbers with no broad sales contest and without the help from large deals that used to buoy results. And we haven't yet seen the impact of IBM's mainframe product cycle, which usually takes around nine months to translate into software sales for CA. Compuware is definitely having a negative effect on CA and on BMC. I suspect that there is more going there of a company-specific nature than meets the eye. And, of course, what's hitting everybody who has been growing by acquisition is the SEC's focus on writing off in-process R&D. (NETA is acting like death, understandably, and is probably a buy right now.) CA says that there is no problem, but, undoubtedly, it's a drag on the multiple while this issue is pending. I agree that it may be a bit choppy over the near term, but I'd be accumulating, i.e., buying on weakness with a 12-month horizon.