Do you have any early morning thoughts on SNDK? I bought a couple of doses more of it today and wonder if I want it. But the kind of margin compression that Eli talked about was not that significant, or so it seemed to me. And they will get very cheap new output in 2005 from both their JV with Toshiba and, presuming all goes well, the TSEM fab. New markets are opening up as the cost of flash goes down.
Is it possible that the massive japanese intervention in US assets (including bonds and stocks) is what has caused the situation that we haven't had a 5% correction since last March? If this is true, then is it not likely to continue for quite some time, therefore we don't go to sub 2000 on the Nasdaq in the next month? We already have the contradiction of a falling bond yield as the dollar falls because of same Japanese intervention. These are interesting times.
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