Jesse, from what I hear, the business from Asia is really slowing down. I talked to some friend in the business of building clean room HEPA filters, they had huge order in Taiwan (some 16 or more mega fab over the next few years). Six months ago he was exuberant, I talked to him yesterday and he was very subdued. Now, this is a snippet and anecdotal information, only, but it is corroborated with the Book to Bill in the semi equip. dropping to .97 last month. It this ratio dropped to the mid 80' I would become extremely bullish from a fundamental pint of view. Technically, the SOX had a breakout, and we should view Friday reaction as a retracement within a bull move. If the SOX were to drop back under 300 I would probably turn bearish for the short term again. As for CYMI (and VECO) they both look pretty good now. As long as CYMI keeps above 19 and VECO above 32, I would stay with them.
Zeev |
