Novellus Message Board - Msg: 6513361

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Technology Stocks : Novellus

NVLS 2.400

+2.1%

Jul 24 5:00 PM EST

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To: zsteve who wrote (1659)	11/21/1998 2:17:00 PM
From: Kailash	Read Replies (2) of 3813

zsteve - insiders are getting cold feet; that's an impressive slew of 144s for last week. Of course this doesn't mean the price won't go higher, but the CFO knows the company is now overvalued rather than undervalued (as it was in October). I see from earlier posts you've tried to pick the top before, and NVLS just keeps racing up. I shorted a tiny bit since 50 has been a turnaround before, in February and April, since the rise has been nearly unbroken now since 22, and since the analysts are saying the prospects for the industry don't look that bright - even as they issue buy recs. Makes me think we've reached the distribution phase - but I should probably have waited a few days to see if this really is the top. Doesn't look like it from Friday's close! What's your guess for next week in the semis? Is there a site with the semiconductor book-to-bill graph? (What I used to use is gone) Kailash

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