Ian, I doubt that any analyst, less of all, Joseph, a relatively newcomer to the scene of "respected analysts" (g), can cause the massacre we have seen in this sector recently. Many good companies (CYMI included) are selling at less than 1 PE of 10 on "trailing" earnings. I, for one, think it is overdone and expect a strong bounce of 50% from the recent lows in many of these stocks, short term. Longer term (like six months or possibly longer), I expect the current lows to be not only retested, but breached. If the market views the sector so poorly, what will the market think if the BTB were to drop under 1.00 sometime in the next six months. I do not know that it will, but we have had so many gargantuan expansions announced already, I do not see much more coming in the short term. Thus, while shipments are still going to increase in the next few months, booking might no longer, and I believe that is what the market is fearing.
By the way, I am back in CYMI since $19-3/8 and suffering with the rest of the thread. I trully expected last Wednesday to be the bottom and loaded up on what I considered a cheap sector from Wednesday to Friday.
Zeev
irrevolute.iuma.com |
