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Technology Stocks : Cymer (CYMI)
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To: nycnpbbkr who wrote (8446)11/5/1997 11:30:00 PM
From: Douglas W. DeVries  Read Replies (1) of 25960
 
NYCNPBBKR, Curly, Darrell and all:

Assuming that there is a significant short interest related to these convertible bonds, what do you see the bondholder's current strategy to be?

I would imagine that there was some short-covering on the Tuesday gap-down after the Monday meltdown. The stock came back real fast. In your opinion is there a significant incentive for shorts to cover prior to the short interest reporting for November? Do you think there is a significant delay in short covering due only to anticipated year-end tax selling by discouraged longs? In any event, how much longer do you think this large short interest will stick around?

I for one would be very nervous to hold a large short position of CYMI in January 1998. The new Roth IRA's come on line in January and I think we're in for a nice flow of cash into the market. CYMI is a stock that is perfectly positioned for a January effect blast-off.

Thank you in advance for your valued opinions and analysis.

Doug
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