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Technology Stocks : Cymer (CYMI)
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To: Emile Vidrine who wrote (8373)11/5/1997 7:02:00 PM
From: Jess Beltz  Read Replies (1) of 25960
 
Emile, your "facts" are the ones in error. In order for your suposition to be true, ALL of the shorting done by the bondholders would have to have been done when the shares were around 47 (post split) Two ugly little facts shoot your theory down in flames.

(1) The stocks began the big slide when Cymer management pulled out of the Needham conference. Would you suggest that they were in on the conspiracy to hammer the share price - i don't think so.

(2) The huge gap up in short interest is in the last month, in which case a large number of the short sells WERE made at prices considerably less than $47, and conversion-to-cover DOES represent huge losses to the short sellers.

I think it is clear that there is a lot of uncertainty (justified or not) regarding this issue, and the Market wants strong verification (ala earnings numbers) before it reembraces this fallen angel.

You guys are trying to fight the market here. I would bet a lot that no one on this thread has a higher percentage of their personal wealth invested in this issue than I do. When caught in a rip tide, the way of doom is to fight the water. the way of wisdom is to float on the surface and let the waves take you in.

NYC - we would appreciate your broker's slant on this issue.

jess
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