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

To: Johnny Canuck who wrote (37073)	5/21/2002 3:33:22 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70394

'kensey' has recommended KLAC (Short) at May 20 2002 11:54PM Kla-Tencor Corp ( NASDAQ : KLAC ) Electrical Measuring Instruments : 0 new highs in group of 24 Symbol Last Time Change High Low Volume ----- ---- ---- ----- ---- --- ----- KLAC 60.06 11:40PM -0.05 60.44 58.88 8,427,100 Community Take -------------- 115 Long / 79 Short 'kensey' said: Mon May 20 20:37:11 2002 KLAC as short sale fodder. KLAC as re-inflation of the bubble. <a href=http://www.suite101.com/files/mysites/Gottfried/klac_prc.gif> KLAC historically beyond what the feedbag typically provides. </a> what does this graph illustrate most? folks pining for a return to the golden years of yesterdays bubble where over-valuation ruled the roost? sort of. it illustrates very clearly semi equipment is a very cyclical business. it shows an unstainable spike which constituted the bubble in 200 - anticipatation of demand that never materialized. the issue is whether there will be a hang-over from the spike which exceeded historical norms of bookings. yah. feeling here is that this hangover will be seen in the second half of the year. that the anticipation of a return to some kind of upswing will be a period of flat. that the prior boom needs more time to be worked off. the price of KLAC stock has shot up way in advance of this upswing which is clearly shown by the price of KLAC stock way beyond bookings. KLAC. into the trough it goes. kensey See the annotated graph of this recommendation at: clearstation.etrade.com