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To: The Ox who wrote (11759)	9/24/2008 1:06:37 PM
From: Jacob Snyder	Respond to of 13403

OT semi-equips Thanks for your comment. I got a much quicker and complete fill with ASML than KLIC. On the brief rally (now over?) from last week's lows, KLIC went up 14% ($4.55 to $5.18), while ASML went up 16% ($18.72 to $21.69). Both are now sitting just above last week's lows. Yes, I've been reading all the semi-equip downgrades and earnings estimates cuts for 2009. However, the sector isn't showing any relative weakness, compared to the overall market. I conclude that these estimate cuts are already in the stocks. IMO, the main risk to semi-equip stocks, today, is the market risk, the risk of all asset valuations being cut. I don't think there is company risk (for AMAT and ASML), and I don't think the sector risk is any bigger than risk in other sectors.