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

To: Cymeed who wrote (10658)	11/27/1997 5:42:00 PM
From: Yakov Lurye	Read Replies (2) \| Respond to of 25960

Dear Cymeed, I guess I'd failed to explain my theory properly. According to it, CYMER dropped from 47 to 31 because of "increased float". On top of it, valuations for the whole sector fell by 35-40% off the highs (e.g., AMAT was 54, now 32). So CYMER's "float value" went down by a similar percentage, say from $310m at the peak to $190m. With 10m shares (6.6m +3.4m) available for trade, this translates into $19/share. To this extent, CYMI's current price reflects the current market conditions and effects of shorting the debentures. All this is highly speculative, especially if my float numbers are off. However, I don't think that CYMER is under a "special attack". The risks of buying CYMER at the current levels are not much greater or lower than the risks of buying other quality semi-equip stocks. At least for now, CYMI price changes are closely correlated to AMAT and SOX index price changes. I have nothing more of value to contribute, therefore I have banned myself from this thread for the next week. I will post again if I'll see a change in CYMI trend vs. the sector trend. Meanwhile, I plan to hold CYMI in belief that it is a reasonable investment. Regards, Y.