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To: MaryinRed who wrote (96894)	2/10/1999 2:05:00 PM
From: Dorine Essey	Respond to of 176387

Mary, this $104 is AFTER the split VBG Dorine Mr. Miller looks at future cash flows possible from the projected high growth rates, than discounts that future cash flow to a present value, using current interest rates. If the current stock price is under the calculated value, the stock is a buy. Using this well established valuation method, he still comes up with a maximum stock price for DELL (DELL) of $104 and $135 for AOL (AOL). The only example he gave of an undervalued tech stock was Gateway, which he fairly values at $200 per share. He owns 4 million shares, all purchased around $50. Dorine

To: MaryinRed who wrote (96894)	2/10/1999 2:13:00 PM
From: freeus	Respond to of 176387

Thank you, did you post this to the AOL thread too? It will put smiles on their faces, something needed by AOL holders lately! Freeus

To: MaryinRed who wrote (96894)	2/10/1999 2:15:00 PM
From: Chuzzlewit	Read Replies (5) \| Respond to of 176387

Thanks for a wonderful summary Mary. I found the comments about valuation especially interesting, but I have problems with these kinds of pronouncements because they depend so closely on assumptions: Mr. Miller looks at future cash flows possible from the projected high growth rates, than discounts that future cash flow to a present value, using current interest rates. If the current stock price is under the calculated value, the stock is a buy. Using this well established valuation method, he still comes up with a maximum stock price for DELL (DELL) of $104 and $135 for AOL (AOL). TTFN, CTC

To: MaryinRed who wrote (96894)	2/10/1999 2:51:00 PM
From: William F. Wager, Jr.	Respond to of 176387

Chat Room Investors Await Buying Opportunities...sound familiar??.. By Johanna Bennett NEW YORK (Dow Jones)--Online investors seemed ready to do a little bargain shopping Wednesday. Traders and investors frequenting popular Internet chat rooms apparently look upon the aftermath of Tuesday's 94-point drop in the Nasdaq Composite as a buying opportunity. As the market opened, many were waiting for the signs of buying before jumping in and grabbing up positions at a discount. And they weren't in any great rush. "There are going to be some great buys," said one investor on Market News, a popular chat room on America Online Inc. (AOL). "The question is when to pull the trigger." A good question, especially since the Dow Jones Industrial Average and the Nasdaq Composite both opened slightly lower Wednesday before edging up slightly. Analysts were not expecting U.S. equities to get slammed at the market's open. But they were not exactly predicting a snapback either. Shares had appeared to be teetering on the brink of another setback in Wednesday's early going. Technology stocks suffered a severe beating Tuesday, with a host of bellwether names - Intel Inc. (INTC), Cisco Systems Inc. (CSCO) Dell Computer Corp. (DELL) and Sun Microsystems Inc. (SUNW), among them - suffering losses of 5 points or more on the day. Those bruisings often accompany a selling climax, setting the stage for a move higher. But nothing about the selling Tuesday suggested that kind of climax. Volume was weak and valuations in the high-technology sector still look rich enough to withstand further selling before they start looking like real bargains. "Just let the Internets soak for a while," said one participant on Shark Tank, a popular AOL chat room for short-term traders. Even if the price was right, not everyone came out of Tuesday's market drop in a position to bargain hunt. Internet stocks were still a painful topic for chat room pundits, especially given the havoc caused by investor worries over USA Networks Inc.'s (USAI) deal to take over Lycos Inc. (LCOS). Meanwhile, many novice day traders were still smarting from the pounding they took during Tuesday's market tumble. Traders said the continued weakness of Web stocks, especially major names like Yahoo! Inc. (YHOO), caught many "newbies" by surprise and left them holding long positions they should have closed. - Johanna Bennett; 201-938-5670; johanna.bennett@cor.dowjones.com - Robert O'Brien contributed to this story.