I read a report on Intel from Merrill Lynch a few days ago. Someone had posted it on the AMAT board for some reason. The report indicted that Intel was planning to make a decision within the next 6 weeks regarding construction of a next-gen 300mm facility in Oregon. The report mentioned PRIA specifically as being the prime beneficiary of Intel's largess.
Now on to my pet project, the PRIA "delayed-reaction" theory. The three leaders (KLAC, AMAT, NVLS)stock prices tanked late last week, while PRIA finished the week at 35.75, less than $2 off its high. Monday morning, KLAC swooned under 48, NVLS got crushed to 60 or so, but PRIA had only been off 1/4. Time for me to move: I sold off 100 shares and shorted 100 shares (yeah - high roller!), then I went off to the gym. When I came back three hours later, PRIA was under 33. I immediately covered and repurchased the 100 long shares - leaving me about $400 richer for the experience.
Of course you do not believe me (that I profited as such), since I did not report these transactions to yall in advance. However, its on record that the stock prices involved did move as I described. More evidence of the existence of my theory.
Now late yesterday and today, the big three stocks rocketed upward again. Lesser players like KLIC and ASYT went nuts. Lets watch tomorrow am. If NVLS/KLAC/AMAT move upward again, and PRIA sits still, my theory says buy PRIA, and you will realize a slingshot gain.
Let's see what happens.
Disclosure, I hold a substantially larger long position in PRIA, as I believe in its 300mm future. I only play innsies-outsies with relatively minor sums. Furthermore, the long position is with a different brokerage (Schwab), hence the taxable events are contained to the Ameritrade account.
Warren |
