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Cypress Semiconductor Corporation Message Board

  • davec289 davec289 Nov 24, 2008 11:24 PM Flag

    C saved by the bell

    Simon, Looks like you finally caught a break with C! Looked iffy to me but you called it.

    I added to my CY on Friday at $2.78. I wonder if TJ is buying mainly to bolster confidence or strictly for value? I imagine a little of both.

    Dave

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    • Dave,

      Still below water on C but they probably won't be bought so there is still long term upside. Still, I think buying C was a bad idea - should have stayed with sound banks such as BBT which had moved back down to an attractive range again. Or NUE which I haven't added to.

      But the main point that I either missed or ignored is the influence of stock price on survival - especially with banks. In effect, a run on the stock can cause a run on the bank. I'm going to hold, but there's no way I would now add to my C position at any price.

      The shorts almost succeeded in making a self-fulfilling prophecy.

      Regarding TJ's purchase, we're talking several million dollars and CY is in an ideal position to weather a recession, even a deep one. I think TJ bought CY for the obvious reason: he expects to make money on it! As well he should!

      I think it was Peter Lynch who observed that there are many reasons for insiders to sell, but only one for them to buy.

      Regards,
      Simple Simon

      • 1 Reply to simple_simon_sez
      • Yes C was very dicey and we all learned something hopefully about what happens when a stock run takes a company down. WaMu has a somewhat similar thing but with a bank run thrown in (and they were what I thought was a conservative investment!). Live and learn.

        It is good to see TJ buying and I'm sure you're right. I like NUE and check out BBT. Also like POT and MCD and CSCO although I think we aren't done testing the bottom of this market. Also, going to revisit ELN.

        Good luck,

        Dave

 
CY
10.385-0.285(-2.67%)Sep 12 4:00 PMEDT

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