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

To: john david martin who wrote (10691)	11/28/1997 2:02:00 PM
From: Cymeed	Read Replies (1) \| Respond to of 25960

Cymi is underperforming the group because it is being haunted by some kind of powerful short selling hands (speculative, but could be true). The first round of assaults against Cymi probably started near Oct. 13 when the stock broke out to above $30, then went to to the lowest of $16.x due to margin call, etc. The current round started when the stock was ready to break the previous down trend line near $23. We are still in a severe down trend. The good news is, volume has shrinked substantially. I don't know if this is due to holiday, or due to the fact the shorts can't find the shares to borrow. But, only those with cash (not margin), a strong stomach, a firm believer in Cymi's future can torelate current assault. BTW, those short selling hands seem to start haunt ASMLF too. Make ASMLF fall like a rock certainly can make Cymi look bad.

To: john david martin who wrote (10691)	11/28/1997 3:55:00 PM
From: Yakov Lurye	Read Replies (1) \| Respond to of 25960

John, today was a short day, very thin trading. You could personally force CYMI to close in the plus column by buying 100 shares at the ask at the close. Movement in AMAT was also insignificant, it was somewhat higher because it is strongly influenced by trading in SOX index, SOX closed a bit higher than on Wednesday and so far managed to stay above the critical 289 mark. As for ASMLF, it was up today because 1)it dropped 5 points a day before on wrongly interpreted news, 2) after all, it is a Dutch company, so it had to get in line with the Dutch market that was opened yesterday. I view today's trading as a non-event, actually the fact that CYMI did not drift lower on small volume suggests to me that shorts are not trying to attack this stock specifically. As for APM comparisons, there are similarities in terms of large short interest and company's dependance on a small number of customers, but there are also huge differences : (1) as of now, CYMI has a virtual monopoly on its product, APM can be replaced by RDRT; (2) APM's sole customer, WDC, is in commodity business, CYMER's customers are producing unique equipment (3) for whatever reason, APM is perceived as lagging competitors technologically (behind in MR), nobody denies that CYMI's products are very advanced. On top of this, CYMI so far has outperformed expectations and claims to be doing fine, APM came well below expectations and did not even bother to warn the shareholders. Just an opinion. Y.

To: john david martin who wrote (10691)	11/29/1997 2:27:00 AM
From: Don Edgerton	Respond to of 25960

ML reiterated accumulate position on ASMLF. But it also made a point that the ASMLF shouldn't be vulnerable to the same forces as other semi equip makers because of their shift to .25 and DUV. DUV was mentioned on at least 2 occasions. Also mentioned that ASMLF's current stepper is $3.5 mil but that DUV stepper is $6.0 mil. Thus, if ASMLF just sells the same number of steppers, its sales will go up big time. Believe Samsung has indicated it will not cut back in its semi-conductor investment. If it did, IMHO, that would be the end of its major role in memory. Hyundai is still undecided. Uncertain what will happen to the IBM-Dongbu venture which I believe will use SVGI equipment (and likely CYMI lasers). ML report on ASMLF can be found on ML site if you are a member of ML online. ML doesn't follow CYMI.