Lew, Novellus and Micron are both stocks on which I have puts and on which I plan to buy more in the future. Using both my 90/10 and thirds approach, I currently own a third position in both. I will probably add a third to Novellus in any up move next week. With MU, I am probably going to wait until just before the eps announcement. No matter how lousy the eps, or loss, they will be better than last quarter and trumpeted as a huge "turnaround" at this touty co. I belive most of the cynics are buying on the rumor and will sell on news that, despite being better solely due to the seasonal factor and Compaq's new direct co., is still horrible for a $50 stock.
If you don't understand the 90/10 or thirds, go to the home page of SI, click on The Internet Financial Connection, and, in the archives, read my article, "Tech Stock Speculating While Wearing a Belt and Suspenders."
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