MEMC INT'L. (WFR -NYSE) The Sleeping Giant? Message Board

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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant?

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To: Carl R. who wrote (3375)	5/28/1998 8:59:00 PM
From: Zeev Hed	Read Replies (3) of 4697

Carl, your observation is astute. It used to be in the semi cycle that the chips move up first and as these guys get healthier they can spend on the semi-equip ware. I think that this tenet is still correct, and the current rally is only a retracement within a semi bear market. It would be natural in such a retracement that those stocks that were hit the hardest will have a stronger bounce from their bottom, and I think that is what we are seeing. MU is extremely oversold, and I expect it to rally to about 27-28 leading (or following) the other semi. MU has put together a record 11 red candles in a row (accoring to Larry Dudash on the MU thread) and has two consecutive down gaps unclosed. On the other hand it has breached a very important support at 25 and after a short reflex rally, it seems to me that it will not only challenge the year's low (22) but breach it. That is one of the reasons that my current entry is very tentative and I have my finger ready to pull the trigger and get out. If we do get additional semi malaise in the autumn (after a summer rally?), I think that WFR will finally be available at "Walmart" prices. Zeev Zeev

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