I agree with you 100%. I thought that INTC's, MSFT's, and AMAT's
earnings were going to turn the tide, but now I concede that this is
a short bear semi market. It all started on July 17 and has been going on
for almost 5 months now. What fills me with hope, though, is that all
the semis have corrected at least 20 - 25 %, and the top earners -
ISSI, MU, XLNX, IDTI have been beaten to death. 50% correction and
over IS OVERDONE!!!! I have no idea why people take their money out
of companies growing 35%+ and put them in ones that celebrate when
earnings go up by 10% - Gillette, McDonald's, Procter & Gamble, Merck,
etc?????????
MU's earnings, if good, will stabilize things. We are already in areas
where there is strong technical support - look at INTC - no matter how
many MBs of bad news come, the stock just refuses to go under 60, right?
Things will probably turn around in January, as search for jewels will start
all over again - we'll be on a clear table. |
