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Technology Stocks : Asyst Technologies (ASYT) Good Value/Where is the Bottom?
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To: Barry who wrote (2206)7/9/2004 4:01:03 PM
From: The Ox   of 2313
 
ASYT has been a favorite "whipping child" for the analyst community, some of it justified but a lot of it seems to be kicking a good company while they're down.

However, I do think there is a concerted effort by the entire analyst community to keep downward pressure on the SCE industry. I believe that most of this negativity is caused by the fact that the analysts don't want to be wrong. They have been telling everyone to get out since November of last year, right at the point where the industry started to show REAL improvements in billings and forward orders. What better way to "justify" their calls then to create FUD by downgrades?

If you can afford the downside, I wouldn't give up my positions at this point in time. I would at least wait until after earnings have started to come out to see what the different industry players are saying. If the industry guides in line or above (as a group), then I would feel very comfortable holding on and probably increase my position on weakness. If we get a bunch of gloom, then I think it would be best to step aside and look for a reentry point much lower then we have today. 3 more months of selling could create a nice buying opp later this year.

I will be listening to a lot of CCs this quarter, more then normal. I want to try and gauge where the weakness is company based and where it's subsector based.
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