UTEK, Inc. develops, manufactures, and markets photolithography equipment designed to reduce the cost of manufacturing integrated circuits and thin-film heads for disk drives. For the FY ended 12/31/00, net sales rose 30% to $146.7M. Net income before acct. change totalled $9.7M, vs. a loss of $4.2M. Revenues reflect increased demand for the Company%s products in Asia Pacific and U.S. market. Earnings also reflect $16M in gain on sale of land.

February 1, 2001

Somebody forgot to tell this semiconductor equipment company about the industry slowdown. The stock is in a straight uptrend while many of it competitors are just now starting to recoup their year-end losses. UTEK's industry bucking trend is supported by some excellent fundamentals. Last week, UTEK reported profits of $0.25, which beat estimates by four pennies. The strong report was driven by new product releases during the quarter. UTEK is one of the very few momentum stock plays in the technology universe. Traders love to buy technology stocks, and if you want to buy one that is making new highs, you do not have to look any farther than UTEK. There is excellent trend line support just above $28.00. Today's low print of $30.38 should provide the initial support. Technical indicators look very good and confirm UTEK's momentum status. The MACD is trending higher and the OBV and Money Flow are really taking off. Today's new high was accompanied by volume of 1.2 million shares, which was 500,000 shares above the norm.

Picked on February 1st @ $32.88
Change since picked +0.00
Stop Loss @ $28.00