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Technology Stocks : KLA-Tencor Corporation (KLAC)
KLAC 1,194-1.1%Nov 7 9:30 AM EST
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To: Henry D who wrote (1563)1/24/2001 8:14:12 PM
From: Jerome   of 1779
 
what is your current signal saying?

For right now I believe that we are at a short term peak. But rather than sell any stock I'm selling covered calls at the money for Feb. (KLAC at 45, AMAT at 50, NVLS at 45, ATML at 18 3/4, SSTI at 20. ) Some of these may get called out but as a group the income provided will cushion the downside risk. There have been just too many reduced guidance reports to make me feel comfortable. Just now NSM and SNDK have given lowered guidance going forward. Its come down to the proposition of "who hasn't warned". That plus the fact that the reduced guidance is more than a minor increment of previous expectations. The cheap stocks I mentioned in the previous post might be a safe haven.

Jerome
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