TNCR, the MOST Undervalued Semi-Equipment Stock Message Board

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Technology Stocks : TNCR, the MOST Undervalued Semi-Equipment Stock

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To: Cary Salsberg who wrote (285)	7/25/1996 2:47:00 PM
From: Paul Moerman	of 362

Hi Cary. I've been following your purchase strategy with great interest, although I'm apparently more bullish because I doubt you'll get your chance to buy more than 10% lower than now. Yes, I own these three (besides a few others) on margin, due to my mistaken belief that this decline was not going to be any different than others earlier this year. As we get periodic rallies over the next quarter, I plan to trim back my margin balance if not eliminate it completely. When I began buying the group a few months ago, I intended to be mostly out of the market by October, expecting a high chance of the kind of selloff we've been seeing over the past couple weeks. Even when this correction is behind us, which to me looks to be an even chance that it now is, I'm terribly concerned about the market performance after the election. I expect Slick Willie to be reelected, and I don't see the overall market in 1997 being kind. Haven't yet decided how to participate, or maybe I'll just spend the year in cash. If Dole pulls out a miracle, I'll become much more interested in owning stocks next year. I think the tech stocks are likely to base around current levels and beginning slowly trending back up. In a quarter or two, with earnings above analysts estimates I hope, many could easily be double or more what they are today. I wish you success, but hope your investment plan doesn't pan out because if it does I'll be really underwater! Paul

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