ELNT gorgeous, 5 for earnings, KLAC resistance broken at 55 and 60. NVLS, KLAC, NSM, ELNT and MRVC. Entry for NVLS breakout was 55, as its an earnings play with an EPS rank of 98. Proj. EPS % Chg. Curr. Qtr 410%Proj. EPS % Change Next Quarter 205.5% also recently upgraded. ELNT beautiful little bull flag just broke to the upside. I shorted the flag for a little but I'm L-O-N-G this wonderful stock.
From Hambrecht & Quist report on Semis:
Chen has a buy rating on Novellus Systems (Nasdaq :NVLS - news). ``Novellus, in our opinion, is one of the prime beneficiaries of the mega-transition of metalization technology from aluminum to copper. We believe they have leading-edge technologies and they have the best leveraged growth potential because of that transition.''
According to Chen, KLA-Tencor (Nasdaq: KLAC - news) is a must-own. ``KLA-Tencor is the world's dominant supplier of yield management solutions for semiconductor processing. On a relative basis, and comparing the stock's performance with what it has been doing in the last year, we believe that the stock is currently undervalued. We believe this situation could correct very rapidly and therefore we think there is a near-term potential for upside.
Technicals: Broke an ascending triangle to upside. Trades at a 46% Discount PE Multiple of 27.5 X, vs. the 51.0 X average multiple at which the Semiconductors SubIndustry is priced. This is a preferred play. I picked up NSM this morning, and I'm in NVLS. I have 5 tech stocks now for the earnings season and NVLS, KLAC, NSM,MRVC, and ELNT. Also in and out of CMVT. |
