THC an interesting quote from Vance:
To: Steven Messina,L.M.T. (8801 )
From: Andrew Vance Sep 26 1997 10:07AM EST
Reply #8809 of 8832
*AV*--By now you must have seen that CYMI hit 25 3/4, a Great place for me to be averaging down with my remaining shares. ASMOF, I might now double on the down side for some real leverage. Once the trade is completed, this puppy is vault-bound for the long haul. At this price, it became a gift for me.
Why the drop??? Morgan Stanley, who has been "up" on this stock, downgraded it today citing quartz delivery issues that will impact production. This was a rather fast flip and turn of events. DUV is becoming a reality and these systems will be a critical part of advancing the next generation of IC devices. Patience will pay off for me on this. I just wish I had dumped all the shares and have a 26 basis for everything.
Like every roller coaster, you take a chance that it either derails or turns into a rocket to the moon. Well, we have a slight derailment much like that of NPRO. NPRO was stated as a "quickie" and CYMI was not. I am hoping this is another over reaction today and to make some quick gains but you never know. Litho is my life so my confidence level is high that this will come back. I wouldn't be surprised to see increases in the pricing for their systems and for the end DUV tools if this shortage pans out. When shortages occur in this industry, they are usually followed by some price increases.
Less quartz means less laser supplies for the steppers, which means less steppers sales. ASMLF does not seem to be suffering too much on this news and neither is SVGI. A bump in the road.
Andrew |
