George,
Probably a ploy by a short seller to drive price down even further. They sell a small amount of shares for a ridiculously low price to scare weak hands into selling on the fear that the bottom is absolutely falling out.
In regards to the semi equip cycle topping out.....I don't know how that could be as lots of new fabs are now under construction or even still in the design stage. And only a year ago, we were still suffering from the "Asian Contagion". Shortages are rampant in various chip categories, and wireless and telecom demands for chips continue to rise. I think this is just a typical correction, which in the long run, will be healthy and allow the market to rise again. As far as CYMER is concerned, its just one of those low profile stocks that can be toyed with by MM's. If you believe they have 80 - 90% of the market and are going to hold that percentage, there is little reason to sell. In the end, earnings will price this stock fairly, and CYMI is going to have blow-out earnings. Keep in mind, the earnings cycle is only a little more than a month away.
My advice, use this great opportunity to add to your holdings. Takes faith, and GUTS!
Regards,
Knip |
