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Technology Stocks : Cymer (CYMI)

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To: Gary Hoyer who wrote (8771)	11/8/1997 4:49:00 PM
From: TideGlider	of 25960

Either way the price goes it's sets a trigger by shorts, institutional buyers and then the return of the momentum surfers. We had the break with the NYT article and the earnings. The market was falling and we rose to 29. Monday however all bets were off when the market fell. Bigger positions then CYMER were being covered. Since Cymer lost the earnings bump there was nothing to encourage shorts to buy out. Then the recovery only made it tougher as shorters had many positions to cover. Cymer being the least. All the big boys were shorted and blew back up. They are juggling and hoping for a crash. Don't think for a minute when you see the pundits talk about going to 7000, that it isn't because that is precisely when they began shorting. Unless you are short on most issues there is absolutely no advantage to talk down the averages. The rise in the indexes doesn't relfect overvalue as much as it just reflects an incredible move to the market in the last few years. The short money is most likely the cause of the fast bounce back. At least a catalyst....a consideracle one at that! Shorts are on the "fence" so to speak....a move either way demands their action. At least in this stock as it's upside signifcantly overshadows a much smaller down... Bruce

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