In our previous write up on Mattson Technology (MTSN) on October 22nd, we warned readers that this position was not for the faint of heart. As if to prove our point, MTSN promptly fell from the $2.65 level at the time of the recommendation all the way down to the level of $1.94 on November 4, 2009, a decline of nearly 27% in two weeks.
Now, with the stock trading at $3.32 and with a gain of 24% in 77 days, we think that it is time to relieve ourselves of this highly speculative position. With the understanding that any investment that exceeds a return of 13% within one year is exceptional, we feel that MTSN is getting long in the tooth. Additionally, if viewed from a technical standpoint, MTSN has formed a topping out pattern over the last couple of weeks. -Touc
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