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Technology Stocks : Semi Equipment Analysis

SOXX 314.52

-0.6%

Dec 11 4:00 PM EST

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To: sammy™ -_- who wrote (30385)	5/11/2006 5:29:03 PM
From: Return to Sender	of 95572

Thank you! Those are some very good links. I'm going to bookmark them and repost them at iHub as soon as I get some time. A couple of thoughts. First to anyone thinking of jumping in here (like I was)be careful. Volume leads. The high volume selling on the NASDAQ and NDX today is suggestive of a correction that has a ways to go lower.. investorshub.com As for the Dow and transports; Tops are formed with violent moves, weakening market breadth and low volatility while indices go parabolic. Recent action in the DJIA and Transports has been definitely parabolic. Market breadth has been weaker than recent market highs. Volatility is historically low. investorshub.com Even on the NASDAQ market breadth is weaker without being anything resembling previous market bottom territory: investorshub.com Although no one can say for certain that today's action was anything more than a sell in May scenario eventually the market (S&P 500) must correct much deeper than it has percentage wise since October 2002. We have not had a single 10% correction yet. I'm going to continue to be careful. Short term trading might work out well if buying when volume decreases and the RSI(14) of the SOX/SMH is closer to 30 than it is now. But eventually even when bargains abound you must have ready cash to buy them. Going long too soon can erode away cash positions. We certainly do not have the kind of pessimism present even at a short term bottom much less a long term one yet. Just my humble opinions and none of them necessarily directed towards you SammyO! RtS

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