Cymer (CYMI) Message Board

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Technology Stocks : Cymer (CYMI)

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To: Curlton Latts who wrote (11899)	12/24/1997 1:41:00 AM
From: Christopher Gates	Read Replies (2) of 25960

Curly, I just can't buy your argument to buy back shares. I think that with their growth the cash on hand will be substantially lower than the $200 million at the end of last quarter. It also doesn't make sense to sell bonds and then buy back stock. In fact it might be unethical/illegal? to make a pitch to the buyers of the bonds that you are going to use the cash to finance growth then turn around and buy back stock. I too am frustrated by the recent price of the stock. In fact I sold a little bit yesterday in order to off set some major Cymer gains earlier in the year. I think that there is a large amount of tax selling and that might be why some of the shorts are still short. It just makes sense that there will be a lot of tax selling at this time. I think that we will see three types of buyers at the begining of the year: 1. Shorts finally covering, tax loss selling season is over 2. People who sold for taxes in early Dec at a loss only to buy back because of the beleif that the stock is down trodden 3. Value investors, The stock is now trading at a very low PE Chris

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