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Politics : Formerly About Applied Materials

AMAT 252.25

+0.9%

Nov 28 9:30 AM EST

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To: Gottfried who wrote (15137)	1/29/1998 7:24:00 AM
From: Mason Barge	Read Replies (2) of 70976

"Buy While There's Blood in the Street" GM - The news about H&Q's intentions towards AMAT and the sector in general does indeed seem to be a "gimme", since an upgrade from them would pop the stock's price a point or two all by itself. This news isn't secret, however, since it went out over DJ wire as well as Barron's online. Other bullish news today -- Korean banks have restructured $24 billion in short term debt on (IMHO) favorable terms and the Nikkei closed over 17000. There was another article on DJ about funds seeking to buy shares in overseas companies -- including Asia -- for "defensive" purposes, which I think really means diversification. At this point, I think we're going to see some cautious portfolio building in good semi equipment shares by the "big boys". If there isn't another large-scale debacle in Asian (or Latin American) currencies, the semi equipment cycle should not fall further from the lows of the past month. I gave up my straddle position yesterday and am long and going longer at this point. I confess I'm holding some Cymer (to gamble on the earnings annoucement tonight -- I've never seen current earnings as their problem) and some SMTL (couldn't resist the low price), but my big hold positions are going to come from ESIO and SFAM, which are strong outfits at cheap prices. Good luck everyone.

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