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

To: neverenough who wrote (19209)	8/31/1998 9:59:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 25960

Nigel, there is really no historical support level now all the way to the initial public offering. Until we bounce few times from such a support no one knows where it will go. my guess at 8 was simply twice book and 13 time next year expected earnings. With Nikkon saying they are down 30% in scanners this year and see no relief, we may actually have a quarter or two of losses. Management has been pretty good at giving "accurate" looking forward numbers and these did not include losses, but once we get stalwarts in the industry go through their "pre-warnings" next months who knows. All that said, it sure could rally with the market (if the market indeed rallies tomorrow or Wednesday), but I think it will just set it up for the Sep/Oct minimelt I think we might get (what was it we got in the last three trading days? <VBG>) Zeev