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Strategies & Market Trends : Joe Stocks Trader Talk

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To: Joe Stocks who wrote (231)	2/13/2002 3:45:28 PM
From: Michael Young	Read Replies (1) of 787

I'm choking on my KLAC short from just under $58. Frankly, I bet they gun it over $62 to run the shorts away. Then it will fade substantially. The analysts are excited because of a minor uptick in orders, and are eager to call the bottom of the cycle. I seriously doubt business really rebounds strongly for the group. Instead I bet it just bounces around the bottom for quite a while. That wouldn't be a huge problem if valuations were low, but that sure isn't the case now. MIKE

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