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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: hdl who wrote (105166)	2/25/1999 11:31:00 PM
From: His Pinkness	Respond to of 176387

When is the best time to buy stocks? When there is blood on the street. When everyone is shunning them. If we are not yet there in Dell, we are close. While not everyone is dumping on Dell, there is more doubting Dell than I can remember in recent times. With all of this doubting calculated into the current price, there is little downside room. Luc, it is time to cover.

To: hdl who wrote (105166)	2/25/1999 11:41:00 PM
From: Ian@SI	Read Replies (1) \| Respond to of 176387

... and McAlinden, their Chief Investment Officer gave a very bullish interview on NBR tonight... ++++++++++ i haven't been able to find anything showing morgan stanley dean witter downgraded dell. +++++++++++++ SUSIE GHARIB: Our guest tonight says that he is still basically a bull and calls the recent sell off in stocks and bonds a "hiccup." Joining me now is Joe McAlinden, chief investment officer of Morgan Stanley Dean Witter Funds. He oversees $125 billion in mutual funds. Nice to have you with us. JOE McALINIDEN, CIO MORGAN STANLEY DEAN WITTER FUNDS: Good to be here. GHARIB: Let's start first talking about bonds. Do you think that this sell off in bonds is over? McALINDEN: There's probably a little bit more to come because it's being driven by signs of strength in the economy and there probably will be more strong data very soon but I think it will run its course fairly soon, maybe back up another 15 or 20 basis points. GHARIB: And what about this connection between stocks and bonds, the stock investors tracking what's going on in the bond market? McALINDEN: It's very powerful, but I think as we saw today there's another side to the same coin. And that is that the very reason why bond guilds are backing up may in fact be bullish for some sectors of the stock market and that is the strong economy and the prospects maybe of better commodity, better pricing power in the commodity industries, the basic industries, and that means better profits. And so I think that the stock market is actually going to be OK. GHARIB: So then how is this, you said it's a hiccup. So how is this outlook that you have on the economy and the stock market influencing your strategy for all these mutual funds that you're managing? McALINDEN: I think that, you know, the thing you have to remember is that the enemy of bull markets is a Fed cutting off the punch bowl, so are these events or are these business news items going to drive the Fed really to raise interest rates and I don't think they are in the short run. I think we've got another three to six months where the Fed is on hold, and that's going to mean there's going to continue to be money flowing into the market and the stock market's going to be OK and I think could surpass 10000 in the first half of the year. GHARIB: That's kind of interesting because I was reading your winter report and you're saying here that based on the P/E average of 20 and based on your estimates for earnings, the Dow fair value target of 9500, maybe could go, like here you said 10000. That's quite a range, 9500 to 11000.. McALINDEN: Well, it could get up to 10500 or 11000 and at that point it would be a little rich, 9500 to 10000. That range is my, kind of a fair value. Above that, it could another 1000 points above that. GHARIB: OK, where are you putting the money? What stocks are you buying? McALINDEN: I think if you truly have a long-term investor, have a one-year horizon or longer. You want to buy low, sell high and last year's losers are going to be the beneficiaries of a lot of things we talked about, energy, basic industries, copper stocks, paper stocks, chemical stocks, and a broad cross-section of oil issues. GHARIB: What about technology? That's been the leader so far although it's been a bumpy ride. What's your feeling there? McALINDEN: Technology from my point of view is a mixed bag. Traders are probably going to make more money in the next few weeks in a rebound in some of the stocks that have been hard hit. Longer term, the more cyclical kinds of commodity stocks, like the semi-conductor capital goods manufacturers, I think have a huge recovery potential. GHARIB: So that's why you call yourself basically a bull. Thank you so much, Joe, for coming, talking to us. We've been speaking with Joe McAlinden of Morgan Stanley Dean Witter Funds. Nightly Business Report transcripts are available on-line post-broadcast. The program is transcribed by FDCH. Updates may be posted at a later date.

To: hdl who wrote (105166)	2/26/1999
From: Sig	Read Replies (3) \| Respond to of 176387

Merrill Lynch had no problem spreading bad news on Dell today at 9:01, 10:01, 10:45, and 1:30 under Yhoo news items. Rather repetitious and almost total speculation, but gee, they had to get the bad news out to everybody. Just doing an Analysts job, I guess. SES