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Strategies & Market Trends : Sharck Soup

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To: Softechie who wrote (18297)	4/24/2001 6:32:17 PM
From: sam_o	Read Replies (1) of 37746

SOFTIE: Man you are right on top of it... 23-Apr-01 Merrill on Chips : -- Update -- Merrill Lynch reduces ratings on Applied Micro (AMCC), PMC Sierra (PMCS), Vitesse Semi (VTSS), and Intel (INTC) to NEAR TERM NEUTRAL from NEAR TERM ACCUMULATE; feels that 36% rally in the SOX over the past two weeks has substantially increased the downside that investors face between here and the fundamental bottom for the semiconductor industry, which is still at least a quarter away; valuation for the group is closer to trough than peak levels on a price/sales basis; thinks run in stocks has created situation in which investors have the potential to lose 40% between now and the real (fundamental) bottom in the industry. Now there's a Picture in WORDS.. lose FORTY percent between now and (potential) bottom. So I guess we better put on our short suits eh?

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