VECO has lately been a favorite of the momentum players. Fundamental have justified the momentum as the company’s solutions for manufacturing High Brightness Light Emitting Diodes have seen an insatiable appetite.

Our research shows that the demand will continue unabated in the near future, but more competition is on the horizon. There are indications that AMAT ( Applied Materials ) may introduce new solutions for the market as soon as tomorrow.

VECO is on our watch list to short as the competitive landscape is likely to change and the market has not factored in the change.

We suggest start scaling in either on up spikes or on a break of $42.6. Since this has been a hot stock, we may see window dressing by money managers driving the price higher in the quarter end. We will use the up move to short sell. On the other hand if AMAT news hits the wires , there may not be any up spikes and lightly scaling in on price breakdown will be appropriate.

Caution is warranted as the float is only 32,126,076 shares and 26.2% of the float is short.

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