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Technology Stocks : IDTI - an IC Play on Growth Markets
IDTI 48.990.0%Mar 29 5:00 PM EST
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To: Andrew H who wrote (2135)3/25/1997 12:16:00 AM
From: Rob S.   of 11555
 
Why fear a summer downturn? There are more ways to play the stock market than buy and hold. I am a bit of a contrarian and also think that a big reason why the semi stocks were down so much last year was that everyone had bid them up based on 20%-60% quarter-to-quarter increases in earnings. That just was not realistic and was bound to meet with a correction. The tech stocks often have a pull back in the summer because companies normaly slacken up due to vacations, summer plant closures and the general purchasing cycles. The analysts love to beat up the tech stocks right after the 4th of July holiday. A couple of years ago they did this, downgrading many tech stocks only to turn around and upgrade them in as little as a month later. I guess they got back from spending their clients and stockholders money at the French riviara. Knowing that this is more likely to repeat itself than not, why not dump tech stocks before then and sell short, rr get ready to buy back in at a lower price? It is very common to have the "January effect" rally and then pull back and then have a May-June rally. I think that will be the case this year because earnings for the industry will come in at or better than expectations.
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