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To: Skeeter Bug who wrote (46106)	6/3/1999 6:15:00 PM
From: Thomas G. Busillo	Read Replies (2) \| Respond to of 53903

Skeeter, I don't know. IMHO, the one to watch from a short-term trading POV is the Robbie Stephens conference in San Fran at the end of July. My guess is that Dan Niles suddenly falls back in love w/ the stock regardless of the health of the PC market or DRAM pricing, raises his rating, and starts mentioning his goofy price targets again. Dow Jones and Reuters run comments from MU execs. touting their market share, cost reduction, and "price stability" regardless of reality or context. And of course, what late-July Dow Jones article on MU would be complete without the obligatory Dan Niles comments on rising DRAM prices. In theory, anyone smart enough to be a PM should be smart enough to view the above if it happens w/ the proper perspective. Good trading, Tom

To: Skeeter Bug who wrote (46106)	6/3/1999 11:33:00 PM
From: John Graybill	Read Replies (1) \| Respond to of 53903

Robbers & Stealers is June 7-8 in London, which makes me think that the intraday action won't be the same as if it were here. I think anything in London would be done by the time NYC opens for trading, so it seems that any toutfest-inspired move in the tech stocks (whether via noisy publicity or quiet insider trading) would be more or less of a step function in the first half-hour or so. No reason for it to cause any late-day foolishness. (We always have the usual reasons, of course). Also, Bear Stearns is running one June 14-17 in NYC. Coincidentally, be on the lookout late next week for the week-before-expiration swoon, which would coincide perfectly with the pre-toutfest dump. As for tomorrow, IMO an option player could hardly go wrong being short some options by the end of the day. We'll be two weeks away from expiration, and the premium burn over the weekend means that even a point or two the wrong way on Monday won't hurt too much. For the bears, I think there's no upside spin possible on the Rivlin resignation, which shapes up very nicely to be the excuse du jour in the event of a dumperoo. The jobs report can be spun so many ways that even knowing the numbers isn't any help in predicting (or even explaining, after the fact) market action. Crap shoot.