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To: accountclosed who wrote (32309)	4/10/1999 5:55:00 AM
From: TheStockFairy	Read Replies (1) \| Respond to of 86076

In all honesty I have not capitulated by choice. <NG> I have a few worries at this juncture though: 1) INTC and the "cookie jar." First call is $1.09, whisper is $1.15. INTC by all rights should come in at 0.65 or so (pulling numbers out of the air) if left to their straight earnings. We all know that they are going to match First Call or come in a few pennies over because of their reserves and their "investments." The question is.....how many MU shares did they sell and how much free cash can they move into this quarter <ng>. 2) CPQ for some unknown ungodly reason gets schrugged off as a company specific problem. Again, we all know that the PC sector is sh*t, but I have been beaten down by the heard and I can't expect anything at this point. (IMHO 23-24 will be the bottom for CPQ, same as last year.) 3) Internet mania does not stop by June/July (this is for my personal holdings). The wealth created by the mania will, without a doubt, be returned to the market at some point. We saw it happen last year, but what can spark it this year? Back to the 100 basis point rise. Personally, I'm sick of the Yitzelfitzes around me suggesting that I am wacko for doing the right thing by going short. I'm not crazy, am I? Yes, TSF you are. No TSF you arn't. <G> 4) The return to value based P/E ratios. It is going to happen this year.....but again, when? 120x earnings for a 20% Y to Y stock is a little bit out of the ordinary. Let's not even get into 120+ p/e s. Let's face it, the economy is pretty darn good. Take away the mania and what do you have left? A bunch of friggin losers. AR, btw I could have saved you the nickle on POS4 if you asked. Again, barring a correction, POS4 is going up to 150 and splitting. There is no two ways about that. Will CPQ spark a selloff?