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

To: Steven Angelil who wrote (12959)	1/22/1998 12:52:00 PM
From: Yakov Lurye	Read Replies (1) \| Respond to of 25960

Relatively speaking, CYMI is in good shape compared to many other companies in the sector, upgrades of existing fabs will continue or may even speed up. Lithography companies are still booked tight through 98, chances are that CYMI's backlog is in reasonable shape, although fab pushouts undoubtedly dampen the demand for additional lasers. I hope reaction after CYMI CC will be similar to that of SVGI (mildly positive) Unfortunately, at the moment we are at the mercy of analysts: good earnings are frequently overlooked, and decreases in backlog leave a lot of room for negative interpretation. To this extent, buying protective Feb. puts may still be a prudent hedge. As for buying puts and calls simultaneously, I'd rejected this idea - premiums are too high. Yakov