acidman, I think you do not realize that CYMI is quite strong relative to the semi sector, it is selling at 60 or PE of current year estimate (about $.26) and at 27 PE of expected next year earnings of $.60. The weakness has nothing to do with losing competitive edge, it has to do with uncertainty as to the timing of the bottom of this semi recession. I happen to be out of CYMI as of last Friday, but the decision was related to the failure to go above 19.25 on the last rally and weakness in the SOX which I now expect to go through its bottom at 240 or so. Readers of this thread know that I am expecting a second shoe to fall in Asia, and apparently it is falling faster than even I expected, with H-K, Malaysia, Thailand and the Philippines all at new multi year lows, and many other markets getting perilously close to such troughs, it is not surprising that we are getting a touch of the flu around here as well.
Zeev |
