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Technology Stocks : Ultratech Stepper

UTEK 30.23

0.0%

Jun 5 5:00 PM EST

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To: Boca_PETE who wrote (1788)	12/7/1997 9:03:00 AM
From: Justa Werkenstiff	Read Replies (3) of 3696

Pete and I2: That quote did raise my eyebrows. I guess I would have to see the entire article to get a feel for the context of the statement to form an opinion. I searched for the article but could not find it elsewhere as I do not have a subscription to the San Jose Mercury News. In any event, one question one must always ask in light of SE Asian worries is how much Mr. Market has already discounted the potential effects of the bad news into the price of the stock? It seems to me that Mr. Market has done its job and then some on UTEK and others. Mr. Market seems to be saying the push-outs are a comin' or orders are a slowin' in semi cap area. Mr. Market is just waiting for confirmation of its beliefs. Mr. Media wants to be the first to put the story on the wire and maybe CNBC will even have a special on entitled " Push-out '98." The semi-equipment book-to-bill will be watched very closely as the industry reports this figure for Novmeber in mid-December. I wonder how Mr. Market will react if push-outs are registered or order slowing is confirmed. If visibility improves (consensus of a short term problem or a minor problem long term) and/or becomes favorable at the time of such announcements, push-outs or order slowing may well have a muted affect upon equity pricing. If the scenario is different, perhaps another buying opportunity for long term investors. I think we have witnessed a confluence of events the past few weeks especially with respect to semi cap equipment area. First we had the foundation for a correction in the form of fully priced to richly priced stocks based upon the best case scenario going forward. At the end of October, Mr. Fund Manager was looking to lock in some profits so Mr. Bonus was there at the end of the year. The SE Asian situation concerned investors (rightly so) given the best case scenario they had already discounted into the price of the stock and so more profit taking. More mutual funds closed their fiscal year at the end of November so there was even more profit taking in anticipation. Soon there were more losses than profits to be taken in tax loss selling by investors and institutions who had bought when things were flying during the summer. Here we are today. Mr. Market is giving those with a long term perspective an excellent buying opportunity just in time for the holiday season but nobody really knows how many shopping days are left. Mr. UTEK Short thinks his holiday season extends well into the new year. But when he finally goes shopping for UTEK shares as he must, he may well find that UTEK shares demand a "Tickle-Me-Elmo" price at the local brokerage mall. What a shame.

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