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Technology Stocks : Cymer (CYMI)
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To: FJB who wrote (17614)5/20/1998 12:55:00 PM
From: Yakov Lurye  Read Replies (3) of 25960
 
Bob, I'd been wrong in predicting the SOXX bottom between 290 and 300 for this month, but I still maintain that the current correction in semis (and by proxy in semi-equips) is almost done. Monthly variations rarely go beyond 15% (which gives 325*.85 =280) as a bottom.

I have restored 70% of my long CYMI position by now and will be probably fully invested by Friday. If SOX drops later to year lows, (which is quite possible given that broader markets had not really corrected yet) I'll sell 25% of my position and buy long-term in-money calls with the proceeds.

Regards,

Y.
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