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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: Apple12 who wrote (8783)	11/8/1997 8:41:00 PM
From: Orhan Birol	Read Replies (1) \| Respond to of 25960

I did not say you were desperate, or suggested you sell your stock. I suggested that e-mailing a short seller and cursing him will only make him and other shorts think that the longs on this thread are desperate. On the surface the fundementals on Cymer looks super; a stock dreams are made of. But the action of the stock tells a different story. This looks more like massive long liquidation than a short raid on the stock. The rules on short selling has changed in OTC too, you need an uptick to short the stock-so you cannot depress it much by offering the stock on the offer or on an uptick. But by selling at the bid the longs can depress the stock badly. The high short position partially may be due to arbitrage with the convertible bond. These people are not betting that the stock is going down but are hedging their bet on collecting risk-free interest. As to what I think is wrong with Cymer; the fear of the collapse of the Korean and Taiwanese currencies indicated here by Mr. Maxwell and maybe a fear of a recession or worse, in those countries maybe spreading to the tech sector here, causing a multiple contraction. As to why Cymer went down on a day when AMAT, KLAC, TER etc. were all up; I don't know the answer. Maybe there was a huge seller of the stock, like Soros and when he is out of the way the stock will rebound. I will then buy the stock on the way up. I think it would be better if you quoted some of the knowledgable people on Cymer's technology, in this thread than insult the short-sellers. Maybe they will learn something and change their mind,although I doubt it. Orhan