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Technology Stocks : CYPRESS Semiconductor (CY)
CY 23.820.0%Apr 16 5:00 PM EST
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To: larry pollock who wrote (2367)6/23/2000 2:25:00 PM
From: Trey Yon  Read Replies (1) of 2694
 
Larry,

as noted the chart of IDTI or (in FLASH) SSTI charts look much more positive. But were not buying & selling charts here. I expect the news that TJ has been selling some share's & the convertible explain much of the difficulty the Cypress chart has encountered lately.

Still it was reassuring to see Dan Niles come out with a $65 target yesterday and as far as I know Morgan Stanley analyst Mark Edelstone still has an $80 target on Cypress.

As you & I both know IDTI & SSTI are darlings of the growth momentum camp. with the MPT Review's Louis Navellier extolling the virtues of these two names for many months now. The problem comes when earnings momentum slows or falls slightly short of the whisper. And ALL these players head for EXIT GATE at the same time.

As for me, I'm a pretty happy camper here on the CY sidelines since I took the proceeds from my sale and put it into the ONIS IPO at $80 back on June 3. ( a very risky thing to do)

By the way the Book to Bill appears to have topped out I suspect that many of the chip equipment makers are AT or have seen their HIGH's for this cycle. But I think the chip manufacturer's still have some gas left to go higher over the next 6 to 12 months.

TTFN

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