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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: C_Johnson who wrote (3493)	2/25/1999 8:17:00 PM
From: Justa Werkenstiff	Read Replies (2) \| Respond to of 15132

Carl: Re: "These equipment stocks were obviously due for a correction so today's selloff is not surprising." It was about time. Big mo spent all of yesterday trying to push AMAT over a closing $70. Didn't happen and they looked for the exit today. These big players are priced for perfection. Re: "Word has it we may see quite a bit of DRAM hit the market in the next few weeks. Some are even speculating that 64 megabit contract prices could easily go under $9." This could put a nice little scare in the market should it occur unless you think it may be discounted already. Nobody should be surprised. But if these stocks are priced at perfection levels when the news hits, we should see another correction. Re: "Yes, there is room for both but bringing it to the bottom line is going to take SFAM/IPEC some time." Agreed and the market has priced SFAM/IPEC accordingly. If we were coming out of the downturn with everything the way it was before the downcycle between AMAT and SFAM, SFAM would have made a run to $30 before this correction on its own without the aid of IPEC. AMAT did some damage during the downcycle no doubt. But I noted today that Ed White has a SFAM target of $42 within a year and a cycle peak of $60, which is where it peaked the last cycle. And look at PRIA today. Looks like it had the 300mm stuffing taken out of it. I think the run from $32 to $44 was nothing more than 300mm hot air. What is the word there now? Boy, I never heard so many people pumped about 300mm than at the conference. Give it a rest. It will happen but the street priced PRIA as though it was going to happen big time tomorrow morning in the form of immediate huge earnings to the bottom line. The last time I heard, INTC was still capex conservative for the year. Thanks again.