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Strategies & Market Trends : The Amateur Traders Corner

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To: Irish who wrote (9205)5/10/2001 7:58:15 AM
From: Tom Hua  Read Replies (2) of 19633
 
Good morning Irish, futures way up on the ECB rate cut plus Morgan Stanley upgrading chip equip makers to strong buy.

07:55 ET Chip Equipment Companies : Hearing from sources at Morgan Stanley that firm is upgrading
large-cap semiconductor capital equipment companies; firm said to raise AMAT, KLAC, ASML, LRCX,
NVLS, TER to STRONG BUY from Outperform... Firm feels that train has left the station and recent
pullback creates a buying opportunity; sees upside of 40% or more over next 12-18 months.

07:51 ET ECB Cuts a Quarter : ECB lowers rate for refinancing bids by 25 basis points to 4.50% and
marginal lending rate to 5.50% from 5.75%. US equity futures rally on the unexpected rate cuts... S&Ps
now trading 12 pts above fair value, and Nasdaq futures are lock-limit up.

Regards,

Tom
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