Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 252.25

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Nov 28 9:30 AM EST

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To: Gottfried who wrote (20457)	6/16/1998 7:56:00 PM
From: Xpiderman	Read Replies (1) of 70976

Merrill Lynch & Co. analyst Thomas Kurlak released a research report on the semiconductor industry that the market interpreted as a "buy" signal. exchange2000.com Can anyone confirm this news? I will call my broker at ML tomorrow. And I wonder what Tom Kurlak will say on this Friday's triple whiching day. He talked down Intel and other semiconductors on option expiration day in last several months. With the Philadelphia Stock Exchange semiconductor index now off 34% from its 1998 high in late February, the report said, the battered chip sector now presents some "buying opportunities" for long-term investors. It also stated that while "stock prices are expected to decline further," semiconductor shares would probably hold up relatively well should the economy falter given the actions that companies have already taken to reduce oversupply and conserve cash. Mr. Kurlak's comments "triggered a wave of buying in the tech sector that caught a lot of short sellers by surprise, and that seemed to add fuel to the fire," said William Meehan, a market analyst at Cantor Fitzgerald & Co. "The techs have been beaten up pretty badly beaten up, and even the large-caps are looking fairly oversold." Steven Kroll, managing director at Monness, Crespi & Hardt, noted that two of the forces that contributed to Monday's sell-off -- tumbling oil price and trading relating to Friday's so-called triple witching -- are now working in the market's favor. A triple-witch refers to the expiration of stock options, stock futures and options on stock indexes that occurs every three months.

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