Hi Paul,
Yes and No. How's that for a clear answer -g-? I lightened up on AMAT and am hoping to get back in at lower prices. I feel we are in "we-don't-know-land" at least until the AMAT CC. (I still am long some AMAT and still love the company.) The number of posts has been overwhelming lately and I find that it's just not worth my time to read them all. [I am specifically referring to those posts that say, nananana, AMAT is dropping to $6, and other such rocket science postings, (you know the ones).] Thanks for missing me anyway.
Oh, I do have something newsworthy to post that I don't think has yet been posted on this thread anyway. This is from Barrons, 27 Oct 97 (last week), the interview with Bill Fleckenstein. I clipped the part where he talks about CYMI. Is on page 34.
Q: "Is that a wrap?"
A: "I'm short one other little company, Cymer, Symbol CYMI. They make UV bulbs that go into semiconductor lithography equipment. The story was that they had a very sexy laser and no competition. But it turns out that they do have competition and their customers are having some problems. Now this isn't a huge market to begin with and Cymer already has made enough bulbs to supply it for quite some time. Their business is just going to stop. Yet at nine times revenues it has a $1 billion market valuation. In any other environment, the stock would be a teenager already. [It's around 28.] It's a great story. Even its investment bankers have dropped their recommendations."
He was short MU, DELL, GTW, HWP, IBM, MXIM, CYMI. He is/was long one
tech company, called 8 x 8, EGHT, which he stated he would buy on dips. My question on this to anyone who follows Cymer is: So, does Fleckenstein know what he speaketh of or not?
Regards,
Teri |
