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

To: Return to Sender who wrote (10441)	7/6/2003 2:03:52 AM
From: Donald Wennerstrom	Read Replies (1) \| Respond to of 95520

RtS, With respect to your thoughts about the SOX and SMH moving higher in the short term, I can go along with that scenario. If we go back to the action of the SOX last week, the index gained 3 percent. The semi-equips were a drag on the Group, AMAT((0), KLAC(0), NVLS(-2), and TER(1). The 4 top performers were, LSI(11), BRCM(9), TSM(9), and MU(9). Message 19084712 Focusing in on MU, B. Schaeffer had this to say about MU which was reported by PRNewswire: Schaeffer's Option Activity Watch: 1. Micron Technology (NYSE: MU) has added about 15 percent since I first highlighted the bullish case for this stock on May 29. And the current sentiment picture could spell more gains. That's because many continue to bet against its strength. Short interest added 37 percent over the most recent reporting period, rocketing to a new all-time high of 63 million shares. It would take short sellers more than five days to cover these positions based on MU's average daily trading volume. That type of buying strength could result in another jaunt higher. The stock was recently featured in a major financial weekly, which cited its recent strength as a sign to take profits. This followed a previous story from April 7 that encouraged the same thing on the heels of a nine-percent gain in MU. Those who listened to this advice missed out on approximately 44 percent in profits. This article further illustrates the low expectations Wall Street has for MU -- expectations that continue to be beat. Zacks reports that nine of the 16 analysts who cover the stock rate it a "hold" and another rates it a "sell." Future upgrades could bode well. Now for a concern. We could see resistance at 15, the site of peak call open interest in the July series. On the other hand, a move above this level could spark a final unraveling of all this pessimism -- pushing MU to new heights. prnewswire.com I am sure there are other examples as well of possibilities for near term gains. Don