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

To: Donald Wennerstrom who wrote (15702)	6/14/2004 1:12:21 PM
From: Jess Beltz	Respond to of 95581

Don, I agree there will be a summer rally and also with your basic sentiment that the sector is way oversold. However, I use margin in my strategies and that forces me to become a day trader of sorts. The near-term (and as mentioned - that's until the end of this month) just seems overwhelmingly negative to me. I need to preserve capital to take advantage of the more-general-upswing when it starts. I also think that much of the analyst community is using historical B-t-B sentiments (the top their calling) that no longer really apply, but it will take time for them to begin to see the error of their ways. Using margin, their mistake would end up costing me a ton of money. Thus the near-term more conservative approach. jb