There's a pattern here. In each of the past 3 months, the lows have been roughly $27, $28, and $29. Now we're slightly below $30. Buy here below $30 and sell it above $33. Pretty simple. You might get $35 for it, but I'd start selling when it hits $33.
Veeco’s focus on cost controls has been ongoing. Fourth quarter operating costs (unaudited) are expected to be roughly flat with the third quarter (in spite of higher professional costs associated with the ongoing accounting review).
John R. Peeler, Veeco’s Chairman and Chief Executive Officer, commented, “Our revenue recognition accounting review is ongoing, and we hope to be able to provide an update on our progress soon. While we cannot provide revenue and earnings information at this time, fourth quarter shipments, bookings, and operating expenses are expected to come in about where we planned. Bookings improved a bit sequentially from the third quarter due to some important research wins in our MBE business. We are pleased that the Company continued to increase our cash balance in this overall challenging environment.”
“Looking at 2013, we do not see any clear signs that the overcapacity in our MOCVD business and weak end market demand in Data Storage will improve in the near term. Customers across our markets continue to tightly guard spending and limit capacity expansions, and tight credit policies limit some of our Asian customers’ ability to raise capital and buy more equipment. The LED industry clearly remains in an equipment digestion period. With few MOCVD deals available, we have also experienced continued competitive pricing pressure.”