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Technology Stocks : Veeco Instruments-Who?
VECO 27.39+3.8%Nov 21 9:30 AM EST
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To: A. Wayne who wrote (2750)3/1/2000 8:55:00 PM
From: Jerome  Read Replies (1) of 3069
 
Look at this volatility as a tug of war. I suspect that there are a lot of institutional types that are buying Veeco for the long haul, because it is one of the better plays in Fiber Optics. Some companies have run up with just the announcement that they are entering the fiber optic market (COHR for example).VEECO is already there.
Day traders could not have missed the intra day volatility. My guess is that they have gotten burned badly. How many today bought at 105 only to see it retreat rapidly.
Overall the volatility is in an upward trend. The long term traders are winning. Veeco could just as easily trade at 135 to 150 as it could at 90 to 95. JDSU is heading northward and will take Veeco with it.
There are two other wild cards to consider. If Veeco makes another acquisition in the fiber optic area 150 will be history. Secondly Veeco could be swallowed by a larger fish. If that happens then 150 will also be history.
These are my observations based on what I have seen happen recently.
Anyone that feels that I'm over inflated post a different view point. To further confound the critics, the earnings expectations for next quarter have been significantly lowered and the stock is rising dramatically. What does that tell you about the future?

Jerome

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