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Technology Stocks : Credence (CMOS): Anyone out there
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To: B Hewson who wrote (183)5/28/1997 10:18:00 PM
From: David K. Moy   of 497
 
I'm pretty happy CMOS has perked up. Some of the other semi cap. equip. firms have touched or passed their mid 1995 highs such as AMAT and TER. If CMOS keeps up its recent price action we may have a ride into the $40+ area (CMOS' 1995 peak) although I think ASMLF and AMAT may have better fundamentals in terms of .25 micron and the RTP and CMP, etc. markets, respectively.

CMOS' recent relative price action has been in the top 30 of over 400 tech stocks I follow. In today's Wall Street Journal, the short sellers appear to have made a bad mistake in shorting CMOS. There was almost 360K shares shorted, up about 149.3% from 4/15. My hope is that most of the recent move is a catch-up to some of the other firms and not just short covering. If the stock keeps chugging along into the $40s then obviously it is catching up to AMAT, et al. If it peters out around here, it may just be short covering which is usually short-lived. I hope it is the former.

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