Novellus Message Board - Msg: 5249187

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Technology Stocks : Novellus

NVLS 2.400

+2.1%

Jul 24 5:00 PM EST

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To: Jim Willie CB who wrote (1552)	7/20/1998 9:31:00 AM
From: TOM KARIS	Read Replies (1) of 3813

Jim , I also want to build positions semi equipment makers but not yet. It is clear to me this has been a "suckers rally" . I had some AMAT July 30 Puts that I bought for 1.00. So when they puked last friday I was expecting AMAT to open at least 2 points down in the 27.500 range from 29.50. On friday after the announcement came out I made plans to go buy a new car thinking I would get at least 3.00 for my contracts. AMAT just touched 27.50 intraday and then headed upward by the end of last week. THANK GOD I CASHED OUT AT 1.50. Anyways, In all my years of watching stocks, when a company missess a qtr. From my experience, the stock tends to move even lower on the 2nd day after the negative announcement. AMAT was the first time I have seen a stock move higher than it's pre anouncement price. Remember Intel when it was down 10.00 a couple of months ago. I believe management played a game with analysts this qtr. They all drastically revised downward and these stocks are trading higher. I'll be buying at lower levels.. Thanks & good luck. P.S. - Still driving the same clunker, new car is on hold AGAIN!

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