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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: Donald Wennerstrom who wrote (3627)	6/23/2002 10:33:08 PM
From: robert b furman	of 95567

Hi Don, I've studied October 8,1998 for years - it is a classic bottom. Important to note is that although many stocks spiked down violently that day on big volume - an entry point 4-6 days later was much safer and it displayed lighter volume but with many indicators diverging - I believe as the result of institutional buying - drying up supply also shorts were competing for the same shares. Fortunately fewer of them were available as most selling was being done by small retail investors and buying was being done by institutions. The disappearance of the float is the necessary requirement for the shorts to turn and panic. Bob

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