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Technology Stocks : Cymer (CYMI)
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To: Curlton Latts who wrote (7395)10/30/1997 8:25:00 PM
From: mauser96   of 25960
 
As bulls, we should be delighted at the high short interest. The fastest money I have ever made in the stock market was when I owned stock during a short squeeze. Short sellers must buy back the stock eventually, so the downward pressure they put on will eventually turn into upward pressure. Since I am a long term investor, the more shorts the better. In the absence of any great news I don't think the stock price will rebound until the semiconductor equipment group and the general market turn more bullish. The TA picture doesn't look good. CYMI has had poor relative performance compared to the NASDAQ for the last 2 months, and has crept below the support around 26. It's oversold, but it could stay that way a long time.
Whenever I find myself bullish on a stock acting this way, I ask myself "What am I missing?" In the case of Cymer I can't find anything.
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