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Technology Stocks : Semi Equipment Analysis

SOXX 296.74

+1.8%

Nov 28 4:00 PM EST

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To: Gottfried who wrote (10608)	7/16/2003 12:59:12 PM
From: Donald Wennerstrom	Read Replies (1) of 95491

Gottfried, You bring up an interesting point. Certainly this is not the first time a dramatic change has occurred between ah trading at night and stock action the next day. There seems to be a pretty healthy market in terms of number of shares traded ah, so I wouldn't think they are all "amateurs". It might be just the other way around - professional traders trying to capture some gains on emotional responses to the earnings announcements. It started last week and was built into a "media" event - the release of the INTC earnings numbers and their outlook for the 2nd half of the year. The message was - "if INTC has good things to say, everything will be right with the market for the 2nd half". Well, their report was judged to be "pretty good" so everyone goes euphoric - what better time to "fleece" some sheep in the ah by the traders. As I write this note, AMAT is up 1.7 percent, KLAC is down 0.6 percent, NVLS is down 2.6 percent and TER is down 10.6 percent. A very long way from where they were trading last night. A nimble trader could have made some very good money in just a few hours. Don

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