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To: Henry D who wrote (3144)	3/23/2004 8:41:08 AM
From: robert b furman	Respond to of 12410

Hi Henry, Good to hear from you! I sold off 68,000 shares of Kvhi in the 28-30 range.Still own 75,000.They are a long term forgetem hold.I believe KVHI was overhyped and many shorts jumped on them.Then they sold a secondary and that meant Wall Street had a 2.75 million share delivery in the bag.This caused an unbelievable short imbalance PLUS 2.75 million extra shares.So the boys in Wall Street have killed my high flyer. It will take a consolidation in here - hopefully the A-5 will prove itself as a revenue maker.Their other satellite products took 1-2 years to gain market dominance - so it is time to let that one go.I bascically sold off all my original seed money - so I'm very happy with that and looking to buy back my position on a second and third retest of lows(hopefully in this price range but at a later date). I do think KVHI is in a bright spot by working their FOG IMU's into many military rocket and GPS based Artillery(Naval shelling).This goes hand in hand with their existing Aegis class FOGs and Nav Trac on all military vehicles as well as all allied vehicles. WhenI sold the KVHI - I re-added to Cohu. I think Cohu is making the long awaited market share growth into DRAM makers in Asia (I'm guessing they are being attched to Intests docking hardware and then bolted up to Agilents testers. If that's true (their Edge testhandler) will add a new dimension in revenue to their existing dominance in pick and place testhandlers [Summit(with ATC capabilities) and Castle]. I think all the GURU"S calling for a dip int SCE stocks can't find their butt in a dark room.They never could call the tops or bottom - why in the world anyone gives credibility to their dip timing - befuddles me. None of these stocks have gone through distribution as volume has been light. It looks to me like the market is going through a very nice shakeout and buy the dip is my answer. Chipper has taught me the value of watching stocks on a 72 day/week moving average.Many SCE stocks are right in there now.I'm thinking we see some sector rotation weakness - which will bring the weekly indexes down to the 72 and then I'm buying stock with some mad money. In between there I've sold some puts in Orcl- Jan 05 12.50's,Cohu May 04 20's and Kvhi's Sept 20 04's. May not have been the best timing but I like the thought of the money or the stock at what appears to be relatively good entries vs today. If we go to new lows (which I'm not expecting) then they'll be losers and bad trades. Good to hear from you. Bob