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Technology Stocks : Cerprobe (CRPB)
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To: raefon who wrote (158)5/22/1998 5:30:00 PM
From: Herschel Rubin  Read Replies (1) of 201
 
CRPB had a strong close on an otherwise weak day for techs. Finally, it closed on the day's high - a good sign. There were several buys just before the close that pushed CRPB up, but volume is admittedly meager. It just illustrates how little volume can push this stock up right now.

With Monday being a holiday, there are just 3 trading days left until the annual meeting May 29th. Whether or not the company confirms a Q2 slowdown during its annual meeting, the uncertainty will be removed. IMHO the slowdown is more than fairly priced in the stock as it is now trading at a PE of 15 against trailing twelve month earnings.

Next week, we may see some decent action in CRPB. A lot of the techs are down to "oversold" levels and at some point, market psychology may shift into buying mode, perhaps after the preannouncement season.
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