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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: DLS who wrote (17108)	7/15/1998 10:00:00 PM
From: Tiley	Read Replies (2) \| Respond to of 69393

DLS, A lot of the semi-equips are at or near book value and trade at attractive multiple to sales etc and a lot of bad news is already built into the stocks. Considering the recent strength in the sector and response to bad news, I would not be surprised if the stock does not go down on bad news. However, I do not see them gaining also - so there is no great risk/reward in the sector for me either as a long or as a short at this point. Re CGNX, you might want to look at the reaction to ESIO's earnings recently (similar business)- there were drastic earnings revisions (downwards) but the stock is pretty much where it was prior to the bad news , All my opinion of course, Best Wishes, - MJ