To: Clint E. who wrote (17313 ) 7/25/1998 12:51:00 AM From: space cadet Read Replies (1) | Respond to
Hey I agree with both of you about the dim prospects for both the chip and chip equipment companies. I remember last year when these stocks especially the chip equipment co's exploded upward. It was the most irrational exuberance I had ever seen, I think. I remember telling people on those threads that they had better take their profits then because they certainly wouldn't see prices like that in this millennium, if ever. By that I meant take those prices of last year and pro-rate them at the same rate that the S&P 500 has gone up since then. I doubted then and still doubt that those companies stocks will ever see those adjusted prices again. I don't know how many SI'ers on those threads took my advice. My impression was that a lot were holding on for tax reasons-almost always a big mistake-especially in the volatile hi-tech sector where a year is an eternity. Anyway, I believe asia is going to recover ever so slowly and '99 will be a lost year. I wouldn't go long these stocks until a year from now at the earliest. I too will be looking for a good time to short some of these stocks. Here's a typical forecast:
