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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 683.70

-0.3%

Dec 8 4:00 PM EST

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To: j g cordes who wrote (33634)	8/18/2001 10:56:52 AM
From: Return to Sender	Read Replies (1) of 68802

The list of oversold semiconductors grew again. Surprisingly it only grew by three stocks to 57 stocks. Here they are listed below: ABTG AEHR ALAO ALSC AMAT AMCC AMKR APTI ASYS ASYT ATMI AVNX AXTI BRKS CAMD CMOS CRUS CY CYMI DPAC DPMI DYSL EMA FLEX FSII GSPN IBIS IDTI IFX JNIC KLIC KYO LPTH LTXX MTLK MTSN MU NUFO NVLS OCPI OVTI PLXT PRTH SEMI SLAB SMTC SYMM SYXI TENS TER TMTA UTEK VIRL VRTA VTSS finance.yahoo.com Note that this is 57 out of the 197 semiconductors that Silicon Investor has listed with an RSI of 20 or lower. I have not been keeping these numbers long enough to give them a truly meaningful interpretation. However the last time the SOX sold off like it is now we got all the way up to 99 semiconductor stocks in this category before the SOX hit bottom and started back higher. Also of interest is that Silicon Investor has somewhat inexplicably shortened its semiconductor listings by 4 stocks. I no longer see JBL for instance. This stock obviously is in the oversold category. That is not to say JBL or any of these stocks above will not get more oversold. I think they will as a group get more oversold early next week. Another 20 point loss on the SOX could set us up for a rally. The danger of course is that we will be operating in something of vacuum once earnings season ends and we await next quarter's warning season. This is one reason why so many are convinced that the NASDAQ will retest April's lows. I say lets wait to see if the SOX holds near 530 before we make that assumption. RtS RtS

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