Novellus (NVLS) It's Day Is Here Message Board

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Technology Stocks : Novellus (NVLS) It's Day Is Here

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To: Thomas J Pittman who wrote (4)	11/24/1996 8:36:00 PM
From: I. Luttichuys	of 59

J, NVLS was trading at about 90 before the down turn. Short term I believe it may pull back, then again it may not. The institutional buying which went down Friday was done in a way that made it seem they wanted to be positioned at any price. Even after Friday's action this stock is trading at a P/E of about 9. NVLS has had 12 consecutive quarters of record earnings (all through the industry downturn). It is now earning 6/share. If you are long-term, IMHO you simply cannot lose. It reminds me of the situation in the 80s when the banking industry stocks went in the tank. I picked up Bank of America at $6 per share. This situation is the same. When a whole industry tanks, find a stock within that industry that was oversold simply because at the time the industry outlook was bad. Find the stock that shows increasing earnings in spite of the downturn. That stock is NVLS. I don't know if it will pull back now or continue upward, but if you can afford to wait patiently you will be richly rewarded. This stock is a steal. Sooner or later 60 and even 70 is going to be a memory. BENNETT

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