Guys, I hope all of you read Jess Beltz's earlier message, live from Hong Kong. If this doesn't worry you, you need to take a step back. A rash of bankruptcies in Korea or another attack on the Hong Kong currency will send all Asia-sensitive issues into the toilet. I don't know if it will happen or not -- half the analysts say the worst is over, only a few say that the worst is on the way. I hope for people everywhere that it will level out now and improve.
But if there is a second, larger Asian crisis, Cymer could find more room downward. Please realize the possibility of this. I will say, as unsought advice, that it's a good idea to get your portfolio into a more defensive posture right now. The Dow could see 6000 and the semi equipment industry significant additional losses. Maybe not, and I'm still long some issues, but I'm holding cash now. |
