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Technology Stocks : Semi Equipment Analysis

SOXX 312.18

-0.2%

Dec 9 4:00 PM EST

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To: Return to Sender who wrote (3345)	5/30/2002 2:19:54 PM
From: t2	Read Replies (2) of 95546

A few more sessions takes us into INTC's mid quarter update on June 6th. That is probaby the the type of catalyst that could lead a very rapid move up on the Nasdaq, probably lead by the SOXX as usual. A lot of negativity is being built in to Intel stock the last few days and any upside surprise could launch the Naz. I don't know if you follow Max Pain analysis but QQQ max pain is 33 for options expiration. During the 2 weeks before May expirations, it looked very unlikely it could get there. Guess what...after Cisco earnings, it took off...and even after the sell off that followed, the gains were made once again in to that final week. Don't see why such a scenario will not play out again. It has worked for months and months. I don't recall a month in which QQQ did not at least touch the max pain level during options expiration---going back to December 2001. The big ingredient needed for such a sharp move is getting the Semi's back to where they were back in early May...I think we are there now.

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