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Technology Stocks : Semi Equipment Analysis

SOXX 316.33

+1.3%

Dec 10 4:00 PM EST

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To: Donald Wennerstrom who wrote (3802)	7/2/2002 2:25:57 PM
From: Return to Sender	of 95561

For once in my life I am going to not only stand by my outlook but not chase a rising stock in a weak market. I am not chasing this rally here. I do not believe it can stick. Wait for the VIX to hit at least high 35's. Then I will think about doing some shopping. More from Briefing.com: 11:33AM Sector Watch: Semiconductor : Another round of heavy losses brings the three day slide to more than 13% with today's semi equip estimate cuts (see 07:40 comment) adding weight to the bearish case. The biggest losers in the group today are: TER -6.5%, NVLS -5.4%, LLTC -5.2%, LSI -5.8%, MU -6%, TXN -4.9%, and AMD -4.9%. Bucking the trend is ALTR +0.9%. SOX index (352) has held at a minor floor at 950 but a failure to sustain a push back through 955 and 963 leaves the very short term bias negative. Next support is at Oct/Sep lows (945/943). A similar level for the SMH is at 27.61/27.31. They meant 350 not 950 and 300 something for all 900 numbers. 10:02AM Nasdaq Composite Intraday : -- Technical -- Index flirts with the intraday low from Sep (1387) in early trade bringing the two day drop (high to low) to roughly 7% and bounces. However, will need to see sustained action above resistances at 1403 and then 1413 to improve the very short term bias. Failure leaves the index vulnerable with next support at last week's low at 1375 followed by the Oct 1998 low of 1357. finance.yahoo.com^SOXX+^IXIC+^VIX&d=t RtS

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