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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: dvdw© who wrote (12615)	6/7/2002 2:52:53 PM
From: David Howe	Read Replies (1) \| Respond to of 19219

<< This means that unless the shorts can manufacture another whopper, they are in BIG, BIG trouble on ESST. >> Only followed ESST for a few days, so take my comments with that in mind, but, I think you are correct that the shorts are in trouble. ESST is a chip company. Yesterday I woke up to news that INTC had been downgraded by ML and that they were bearish on the chip sector. ESST goes up. Yesterday INTC guides lower and this morning INTC and other chip companies are downgraded by numerous firms. ESST goes up sharply. ESST sells chips for a variety of industries, but primarily home electronics. They sell to the consumer where sales are still strong as opposed to business sales that are weak. Their market share is improving and their valuation is quite low (PE of 15?). Not sure the shorts are going to get the kind of news they need in order to exit gracefully. IMO, Dave