re: do u think we reached bottom already and if so did you get those LEAPS? 2002 or 2003 and what strike?
No, I still have no position in any semi-equip. For quite a while, I've been saying I'll buy longest-term LEAPs, out-of-the-money, when the stock hits 30. At the moment, I'm thinking 2003 50s. I am currently reconsidering that buy target, and perhaps buying the stock (not LEAPs) the next time the stock hits 40. It is encouraging that bookings went up. It is discouraging that sentiment on the semi sector continues to decline. When semi-equip companies give pretty good guidance, but semi companies give ugly guidance, that is not a good time to be buying the semi-equips. You can't do well if your customers aren't. So, I haven't changed the plan I set months ago, but I am edging closer to buying.
It is also discouraging that AMAT set a new low this month, and 40 did not hold. And it is discouraging that 3000 on the Nasdaq did not hold, and may be turning into a resistance level. The stock movement since the B2B came out, indicates the Street is not reassured by that report. We are still drifting in a trading range, about 40 to 55, and I would still give even odds about which direction the stock goes when it breaks out of that range.
JS@patienceisavirtue.edu |
