Novellus Message Board - Msg: 18625453

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Technology Stocks : Novellus

NVLS 2.400

+2.1%

Jul 24 5:00 PM EST

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To: RMP who wrote (3407)	2/25/2003 11:22:24 AM
From: RMP	of 3813

From technologyinvestor.com Fred Hickey's latest High-Tech Strategist newsletter is its usual depressing self. It's headed "Beware the War Rally." He writes "the bear market has not completed its work." He concludes, "Because of the threat of a short-term rally, I currently have significantly reduced (my) put options positions." He says he currently only holds put options on Intel and Juniper Networks. He says he plans to reestablish short-related positions prior to Novellus' mid-quarter update. (Novellus will provide its first quarter 2003 mid-quarter update in a conference call this Thursday, February 27, 2003 beginning at 1:30 p.m. PST). Hickey says Novellus is a possible target, though "I prefer to target Applied Materials(P/E 83, P/S 4) and KLA-Tencor (P/E 42, P/S 4.5). He also says "I'd like to establish short-related positions in Texas Instruments and STMicroelectronics

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