Good morning America and especially, Cymer watchers, buyers, sellers, shorts and Market Marker manipulators. It's soon to be a gorgeous Saturday here in San Diego California. Before I go out and hit golf balls for 4 1/2 hrs I feel compelled to reply after reading these last 20 or so posts.
Ok, first, I'm not short here with Cmyi and the only shorts I have in my entire portfolio are Csco and Vsio and I'm starting to feel uncomfortable with my decision making there but that's a different topic.
For the last several years I have been in and out of the Semi Eqp mfg group and although I've been slapped a few times and I'm sure will be again, I've been fortunate enough with my trading in this Sector that I don't have to wake up every morning and go to work for someone else (no conceit intended).
What has always attracted me to this Sector, is its tremendous investment potential, if you understand its cyclical nature and the volitility that comes with it. As everyone here knows, all these stocks have been knocked off their high's and are now looking very attractive, IF and when the Street gets a real handle on the Asia problem.
Ok now lets get down to Cymer and my descion to sell out all my shares (except for, my May 12 1/2 calls @ 4 3/4) at what APPEARS rock bottom.
My #1 criteria for stock picking is managements attitude towards its shareholders. Some companies feel and treat its shareholders as partners, in both good and bad times (in mhop, nobody does that better than Morgan at Amat). Then there's the occasional cos, who goes public, with the only intent of raising needed capital to expand but do so relunctantly, because of the responsibility it now has, to communicate with its shareholders.
I feel, as you all know that Akins, pesonifies this, "don't give a shit" attitude towards his partners. Go to Co news, research all the news items that cymer has released and it's Pathetic.
I bought Cymi because of what I perceived as excellent potential technology going forward and unfortunately, assumed there was mgmt in place to carry it off.
Like many others here, I kept saying "what do the shorts know that I don't?" These guys aren't idiots and yes its been a field day for them this last several weeks. Last week It came to me "What they know and why they still haven't left". They know that Akins is a PR bozo, has no respect for the street or its shareholders. This guy is giving no guidance to them or us.
Ok I've said enough, I'm out of here, a nice weekend to all.
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