MEMC INT'L. (WFR -NYSE) The Sleeping Giant? Message Board

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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant?

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To: All Mtn Ski who wrote (4556)	12/16/1999 5:49:00 PM
From: Zeev Hed	Read Replies (1) of 4697

Tom, you are talking about close to a billion in debt, if Veba were to be forced to write it off, it would endanger their own balance sheet quite a lot, IMHO. I think this company will not go at a big premium above book, particularly in view of the fact that we may have just another year of fat in the semi cycle before they turn back into their cyclical decline. The last few days were the first shot over the bow of the SOX, and while I expect the SOX to make a new high in the next three months, I think that the cycle ultimate high will be before a bear market reign in the general market. Right now, I still have a bear in calendar for 2001 or so, thus a peak sometime in June, with a repeat double top late in 2000 is quite a possible scenario. I think that if you get a rally to the $15 in WFR, you may want to bid it goodbye. Zeev

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