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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Peter Goss who wrote (61300)	6/3/1999 8:50:00 PM
From: Earlie	Read Replies (2) \| Respond to of 132070

Peter: I actually loved the IBM comments. Here's why. I've noticed that during this mania, on the occasional rare day when a tech stock gets whacked hard (like say 5-10%) the next day, it almost always receives a significant bounce. As RMBS was really torched on Tuesday, it made sense to me to take profits on a part of that position. The IBM comments allowed a lovely rejoining at a mildly elevated price. (g) The IBM comments sound like somebody covering a bit of butt. To me, it was a case of "damning with faint praise",.....well, we're not really giving Rambus a complete heave-ho,...etc. While the RMBS bulls may not agree, the list of problems for this stock is very lengthy. The memory producers aren't keen to produce their chips (and I don't blame them) as the costs are higher, the capital equipment requirements are large, and they simply don't see where the customers will come from. Worse, Samsung is already there. Why spend resources to produce for a MAYBE market when the big gorilla has already staked out the territory? The box builders are not keen either. RMBS requires expensive high performance micros, and that is not where the market is. I could add much more. Bottom line, it is an excellent, Iridium-like short. I will ride this one for the duration now, although again, on days when the market really smacks it, I'll count on the dippers to enhance my profits. Best, Earlie