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Technology Stocks : Veeco Instruments-Who? -- Ignore unavailable to you. Want to Upgrade?

To: Stitch who wrote (1457)	8/28/1998 8:51:00 AM
From: Zeev Hed	Respond to of 3069

Stitch, I do not know if I'll make money on VECO today or on Monday, but if it holds 25, I'll make money by the end of next week. The momentum of this market has been badly damaged, but not much more than it had been damaged last October, and from the day when we had a tick of -1775 then we marched ahead some 2500 Dow points, we may have a repeat performance here. Not at once mind you, we will probably have to retest this bottom here, if it is a bottom. Right now we have taken out a lot of "hot air" from this market, and if our economy can withstand the shocks of the international maelstrom, and not go into recession. With the low interest rates the excess liquidity has created, a recession is not a foregone conclusion. As a matter of fact, the same liquidity may power the bull again. Got to look at those turnips to see where the wind will be blowing. Stitch, you must remember that a lot of things are in place for a possible end for this bear market. The BTB is as low as it has been since it is reported. The semis are in a corrective phase for almost three years here (I take the 95/share peak of MU in Oct 95 as the beginning of the bear in semi), and few other tell tale signs indicating that here or maybe by November we could be bottoming. The Nikkei could do it final swoon down in a period of few months here (if not few weeks), and if Japan steps back from the edge of the abyss, or at least shows some sign that it will step back, things may start to look a little better, in the future. I know, a lot of "ifs" here, but I feel so "uncomfortable" being a bear, I am trying to look at the possible brighter spots. Zeev