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

To: FJB who wrote (12332)	1/6/1998 4:41:00 PM
From: Mr. Aloha	Respond to of 25960

Profit taking and continued Asian fear... (EOM) Aloha

To: FJB who wrote (12332)	1/6/1998 6:26:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 25960

Robert, I was not in either, but last night in an exchange on another thread with Carl Rohman, I voiced the fear that the decline will start at once. I would say the beginning was the minute rise in interest rates and the collapse toward the end was the decline in interst rates (not very logical is it?) I also think that the over night continuation of slow mo collapse in Asia (currencies this time) was a contributing factor. Finally, you know my overall scenario, it was supposed to start declining tomorrow and the market had to prove me wrong, soo thet started today (VBG). Zeev

To: FJB who wrote (12332)	1/6/1998 6:46:00 PM
From: Yakov Lurye	Read Replies (4) \| Respond to of 25960

RE: What drove the techs down so much? Bob, this may be a normal retrenchment. Overall market decline is largely due to weak banking and oil stocks. Talking heads on CNBC complaining about the absence of January effect, deflation to come, etc. As for our part of the stocks universe, SOX had been declining, but 270 level (previous resistance) had provided some support. CPQ choosing AMD as a supplier for cheap computers instead of Intel did not help (AMD up, INTC down; INTC far outweighs AMD in any index). I am somewhat worried about a big drop in LRCX that in many ways trades similar to CYMI; however, LRCX is extremely sensitive to SOX swings. IMO, SOX and most semis/semi-equips are still trading within upward channels started in mid-December; tomorrow may be an important test day for this theory. Regards, Y.