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

To: Judy who wrote (21080)	2/11/1999 8:10:00 PM
From: Zeev Hed	Respond to of 25960

Judy, few good weeks to go is not particularly bullish, but it reflects what I think the markets will do. I have mentioned that I do expect a severe relapse in the high techs come spring (or actually mid to late spring), but on the other hand, I was quite clear that after this early February retrenchment we will turn (hey the turnips almost nailed down the hour (G). I am also quite bullish for the second half but with less clarity as to timing, the drive then will be liquidity excesses from Japan trying to find better returns. Of course, the bottom in the semi is helping my bullish stand as well. The way I see it it is going to be a three way fight, earning momentum (positive) valuation (negative) and liquidity (which should become quite positive later this year and early in 2000. ) The missing leg is the FEDS, which I expect to step aside, unless the relapse I referred to earlier becomes panicky, then, IMHO, they will do their "patriotic duty" and step in with another rate relief, they have ample room to do few of these due to the low inflation here, which I expect to stay with us until deflationary pressures due to excess capacity ease. Zeev Zeev