Robert, as I have said at the time, the chips will burst ahead of the equip in general, and Kurlak is a little late. About two month ago, when asked about my position on INTC, I stated that clearly, buy it on a retreat to 85 or a breakout of 95, the stock was at 90 and did not go to 85. I would say Kurlak is a little late and maybe a contrarian indicator here. As for CYMI, my position is very simple, it is now in a trading range of about 15 to 17 and can break either way, so yes 25 is possible in January but so is 12. I have a feeling that the equipment makers including CYMI are somewhat ahead of themselves. If you look further down the road, I think that CYMI has a pretty good chance of getting to $30 later in 1999.
Rereading what I wrote, I am not sure if this is helpful at all. It reflects the cross currents out there, a strong monetary background with ample liquidity contrasted with less then par outlook for actual shipments of equipment over the next six months.
Zeev |
