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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (32845)	6/19/2001 2:54:45 PM
From: The Ox	Respond to of 69126

Hi Harry, My best guess is that I think the recovery in the semi equips is way ahead of schedule and more weakness in their stock prices should be expected. There is very little of anything to hang high hopes on at this stage and my time table of August/Sept/Oct for starting to consider getting in still is in place. Add in comments like your own analysis of the macro situation, which could be worse next year than most are allowing for and I find it hard to get excited about the sector right now. There will be plenty of trading opps going forward and I think many of these stocks will likely run into and around the July earnings period. While a few more companies will start to have some visibility, I am betting (by staying on the sidelines) that many will be unable to predict the immediate future with any degree of comfort. Another example of the sector's problems: Entergis cites tough industry conditions --11:55am - By Michael Baron Entergis (ENTG) is off $1.58, or 13.2 percent, to $10.42, after the Chaska, Minn., materials transport firm reported third-quarter earnings from items $9.9 million, or 14 cents a share, down from a year-ago profit of $12 million, or 19 cents a share, but in line with the average estimate of analysts polled by First Call/Thomson Financial. Revenue dipped to $81.3 million in the latest three months from $91 million in the same period a year earlier. Gross margin slid to 46.6 percent in the quarter from 48 percent last year. The company said business conditions have "deteriorated at an unprecedented pace over the last quarter." About 170 positions have been eliminated through the consolidation of manufacturing facilities, it added. Looking ahead, Entergis said it expects fourth-quarter revenue to experience a decline of 25 to 35 percent from third-quarter levels.