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Technology Stocks : Novellus
NVLS 2.400+2.1%Jul 24 5:00 PM EST
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To: Cary Salsberg who wrote (3321)3/5/2002 10:51:43 AM
From: jmanvegas   of 3813
 
When a market goes from 5000 to 1400 and rallies back to about 2000 like the Naz did, that's called a bear market rally. Sure we've been in a bull market since Sept., but I consider it a bear market rally. As far as valuation goes for NVLS, premiums may be deserved, NVLS has not too much further to go to reach 1999-2000 peak valuations when NVLS was doing some $400M/quarter in revenues. My call is for a trade to the downside as NVLS has run too far, too fast. I see support in the low to mid 40's. At that point, I may consider going long. Good luck.

jmanvegas
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