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Technology Stocks : Novellus
NVLS 2.400+2.1%Jul 24 5:00 PM EST
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To: Carl R. who wrote (2239)5/20/1999 12:49:00 AM
From: Steve Fancy  Read Replies (1) of 3813
 
Carl, I believe AMAT is considered the blue chip of equip-suppliers and provides entire systems whereas NVLS only provides a partial system that interfaces with other manufacturers if I understand correctly. AMAT also considerably larger than NVLS, trades much more volume, and is and has been followed by many more investors over the years. NVLS has always been rather thinly traded in comparison...options chains until the last year or so were like ghost chains (kinda like this thread). Felt like I was the only one trading them sometimes. I'm mainly an options trader (several days to several months) and have always preferred NVLS due to the volatility. In the several years I've followed it, NVLS has been one of the most volatile stocks in it's price range short of an internet.

As far as the street punishing NVLS for the secondary offering, seems that it would be natural for the stock to trade lower due to the dilution. I'd have to play with the numbers to see if it dropped proportionally to the percent diluted.

FWIW, only reason I closed out half a position today is that I had 20 May 55 calls and didn't want to chance 'em all getting wiped out over night. As I resolve the other half position over the next couple days I'll be watching to establish a new position. Not sure what I'll do in that I expect a general downdraft over the next 5-6 weeks as earnings warnings kick in, but as always will post my trade here and expect to be back in by this time next month.

Good luck,

sf
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