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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: Donald Wennerstrom who wrote (11928)	9/30/2003 5:42:00 PM
From: Return to Sender	of 95487

Every single one of my short term indicators is screaming oversold market. We could have a couple more rough weeks but history never repeats exactly the same. My indicators tell me it's time to be buying. Look at the charts for me will you: investorshub.com First: The NASDAQ new highs actually hit a new low Friday. It closed higher today than it did then. True today it moved down but not a lot really. The market moves higher as more new highs are printed. It seems to continue higher until the upper Bollinger Band is penetrated and we get another new high print. Then it will often reverse course with profit taking. Second: The SMH and SOX is below the 50 day moving average as of the close today. Each time this has happened the last six months the market has rallied back to new highs. Third: When the put to call ratio closes within 5% of a Bollinger Band a short term direction change is usually coming. Today we closed right at the upper Bollinger Band at 1.06. Often when the put to call ratio moves up the market moves lower but once an extreme is reached (in this case too much bearishness) the market reverses course. Fourth VIX/VXO readings: The VXO did not even close above Friday's close today. When the VXO is falling the market is going to move higher. Fifth: TRIN and TRINQ readings in the 5 day sma of 1.50 are overly bearish and indicate an impending rally. These readings today are usually high!

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