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Technology Stocks : Semi Equipment Analysis

SOXX 302.84

+2.0%

Dec 2 4:00 PM EST

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To: Gottfried who wrote (2936)	4/26/2002 6:23:29 PM
From: Donald Wennerstrom	Read Replies (3) of 95515

I think I am all out of predictions.<gg> I thought the last 2 weeks would be "up" weeks. I had the first week right when the group was up 3 percent(however, Thursday and Friday were big down days which limited the weekly gain to 3 percent). This week was a bummer every day with the possible exception of yesterday - net result, down 9 percent for the week. To sum it up, 2 weeks ago the group closed at 758.98 while today it closed at 707.25 for a 2 week loss of 7 percent. I expected a 2 week gain of 5 percent or so, which shows you my prognostication abilities.<gg> Today, many indices closed at their lows for the day. No bottom in sight, but maybe Monday will find that bottom - hopefully, sooner than later in the day. I will make an observation though from my perspective. This week sort of reminded me of the several weeks prior to the market turn around in October 1998. Just like in that period, the "news of the day" wasn't all that bad, but the "market" wasn't buying it. Negativism ruled the day then, just as it ruled the market this week. Are we at the magic "turn around" day? I wish I knew!<gg> The posts on the SI boards are very negative these days - that is typically a good sign for a reversal pattern in the near future. By the way, do you have any predictions?<gg> Don

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