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Technology Stocks : Semi Equipment Analysis
SOXX 316.33+1.3%Dec 10 4:00 PM EST
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To: robert b furman who wrote (3829)7/3/2002 12:54:56 PM
From: Sarmad Y. Hermiz  Read Replies (1) of 95565
 
Robert,

SB link to insider sales for AMAT shows approx 500k sh sold this year. Granted these were for options exercised at $27/sh. But, these were OPTIONS. That is newly created shares. Similar to the specialist short, only far more toxic. The short has to be covered, eventually. The options are printed for free, and must find a home. I think some of the spiral down in prices is the result of handing the hot-potato option shares from one uninformed holder to another.

I say un-informed because at the time the option-share is sold, and for 30 days after, no one knows if that share was created for a penny's worth of ink, or whether it was a full-price share that was purchased with $27 dollars worth of work.

Anyway, it is worth figuring out how long 500k shares take to find a long-term home (instead of someone like Zeev and his watchers who might zig-zag thrice in two days).

I don't know why there are no models floating around to try to figure that out. I think that is what we need now. But I've also noticed that my posts on that subject bring almost no response.

Good luck on your recent purchases. I've been fully invested for a while, and am just watching the ball get pitched back and forth.

Regards,
Sarmad
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