S.A. Advisory E-Mail Update

January 10, 2000

New Sell and Buy recommendation from  www.saadvisory.com-Jan 10,00

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1. Placing a SELL recommendation on ARTM @ $1.625-- recommended Jan 19,99 @ .375 for
333% gain!  Our motive is profit!  We never liked management, the IR and PR was always
terrible and the earnings in our opinion was wasted on Internet paper!  WE will take our
profit and never look back!

2. Within the next Dick Davis Digest--"stock picks for the year 00"  we have been invited
to submit our picks--We have decided to use HMLD and PCSH--both are extremely boring and 
in our opinion very undervalued! HMLD is est. to have rev of $600 million and earn .60 for
00, has a book of $5.33, no brokerage firm follows this situation, George Soros, the investor
own 13% for one of his funds, management has been net buyers of the stock on the open market. 
  We believe that HMLD is a great takeover candidate and we have a target price of $10.00
PCSH- rev est. for 00 is around $2 billion and an earnings surprise, book value around $8.00,
could be takeover candidate, no brokerage has an opinion on this stock.  We believe that PCSH
is a great speculation. We have a target price of $6.00-$8.00 if the earnings continue as re-
ported within the last quarterly report.  Both have small market-caps!  Both are core holdings
for mini-micro-cap investor types. HMLD-$3.75  ---PCSH-$2.00  

3. Sell recommendation on APM--filed for chapter 11--get what you can!

ACRG--engaged in wholesale distribution of heating, ventilating,air conditioning and
refrigeration equipment and supplies.  Book value $1.09, for the nine months rev reached
$100,500,000.00  and net income/sh of .23 fully diluted, only 10 million shares outstanding.
Could also be a takeover candidate & no brokerage firm coverage. Not much risk in this situation!
A great core holdings in our opinion! Cheap at $1.40

5.  FRTI--The internet is not our favorite investment theme, but this is one of our favorites
We use the service (  BULLSESSION) .  We are told that they have 900k subscribers--we are told
that they should be valued at $200.00/pop--that gives us a market-cap of $180 million! FRTI
only has 6 million shares outstanding and fully reporting-yields a market-cap of only $42 mil!
We believe that frti is a prime takeover candidate at much higher prices.  We also believe
that a major hook-up with  a major portal is possible!  If that was the case this stock could
fly to the MOON!  Should own some!

6..Other stocks that have come to life in a big way!  mctl, afpc, rint fcin

7.  agbg--still looks attractive at current levels---.50 stock with .11 earnings for 9 months.

The Russian stocks continue to explode skyward!
Lukoil--$54          recom.  $13      strong B
Vip-----$41                  $5.5       Hold
trf-----$20                  $8.50      buy
Sibneft-$4.00                $3.50     strong B
Surgutneftegaz--$15.50       $8.25     strong B

Yours truly   William Velmer
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