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

To: Yakov Lurye who wrote (11176)	12/8/1997 1:59:00 AM
From: Curlton Latts	Respond to of 25960

Morgan Witter is the Bell Cow MM in CYMI. The Bell Cow very often shorts against inventory. I'm not surprised to see long inventory at the lead MM even if he has been conducting net shorting activities. The NET managed position is what's at issue. Mr. Master of the Universe went long in June-July prior to and after 2nd qtr EPS 50%+ upside surprise to do two things. The upside price action flurry 1) attracts speculators that will later be abused and 2) provides stock that will be wholesale dumped to start the selling without shorting initially. It's how the selling is done that manipulates the market through the medium of the tape. By selling wholesale, rapidly, without regard to price, Mr. Universe drove the quickest decline in the market causing a fast large break that signals institutions to hold off and watch for the moment. This whole market is out of synch with true valuation. When the pendulum swings back from an oversold extreme it is likely to swing to the extreme in the other direction. That ought to result in a fairly sharp upward rally of considerable duration. Good Luck To Each and All Curly ~~~~~~~^^ [6.6] ....> [_]