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Strategies & Market Trends : Trade/Invest with Options Jerry a Point & Figure Chartist -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Olson who wrote (3258)	8/22/2001 7:08:13 AM
From: Jerry Olson	Read Replies (1) \| Respond to of 5893

are these people idiots or what??? can someone decipher this bunch of junk???..and people are paying them for this nonsense... Industry Members Semi Mfg Initiations : Dain Rauscher Wessels initiates coverage on six semiconductor manufacturing technolgies companies; starts Applied Materials (AMAT), KLA-Tencor (KLAC), Lam Research (LRCX), and Novellus (NVLS) with a NEUTRAL; initiates on Veeco Instrmnts (VECO) and Newport Corp (NEWP) with a BUY rating... cites rapid and optimistic expansion of semiconductor production capacity, unrealistic forecasts that bloat inventory in the channel, reduced visibility due to dissagregation of the value chain, and sudden and sharp end market demand decline in critical segments; says the resulting mayhem slowed capital expansion considerably, and it will likely take a while for everything to return to normality; recommends that investors underweight their exposure to this sector until either 1) fundamentals improve and justify valuations, or 2) valuations contract to trough levels and justify investment.