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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Return to Sender who wrote (2806)	4/17/2002 11:34:10 AM
From: Cary Salsberg	Read Replies (1) \| Respond to of 95444

The will be NO war in the Middle East. A war requires 2 combatants. Terrorism and responses to terrorism (incursions) will probably be with us for a while. None of this will affect the market, much! I think lightening up is prudent. Concentrate on valuations that already discount positive surprises and cycle peak earnings. Of course TA for short term decisions.

To: Return to Sender who wrote (2806)	4/17/2002 12:50:57 PM
From: JSLyons	Read Replies (1) \| Respond to of 95444

Hi RtS, I would agree. I've been using the recent move to lighten up a bit in my semi-equips: ATMI, MKSI, KLIC, ASYT, TRKN and GGNS. Like may others, I left too much on the table in the the last (bubble) move. I now use the A.I.M. system of position averaging as a risk management tool. Now, I'm selling off around 10 pct of my holdings in each and will generate more sales on further strength. As a result of these moves, I still have decent exposure to the sector (and a bunch untouched in the compound semis like AXTI and EMKR, which are at last showing signs of life) but have increased my cash reserves to a healthy level for possible reentry on any real pullback. We AIMsters have our own thread here at SI, although it's not that active any more: Subject 12596 Best rgds, Jonathan

To: Return to Sender who wrote (2806)	4/18/2002 12:32:27 AM
From: The Ox	Read Replies (2) \| Respond to of 95444

I think you should be very selective if you wish to hold onto long positions in this market, especially if you bought with the intention of trading. Nothing wrong with putting away stock when a company reaches your "good buy" level but I wouldn't be holding traders with only a "hope" that the market will rally with the rising tides carrying all stocks higher. This market is too choppy to ride on hopes for short term timing. As long as you are buying the fear based drops, you should probably sell into the rallies, or at a minimum, keep setting rising stops levels or use options - whichever is your normal strategy for protecting stock gains.