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Technology Stocks : Semi Equipment Analysis

SOXX 312.76

+1.1%

4:00 PM EST

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To: Return to Sender who wrote (3840)	7/3/2002 8:05:01 PM
From: Sarmad Y. Hermiz	of 95536

>> The trading today was nice because we did see a lot of large caps gaining. Short covering, institutional buying and a lack of sellers What I fear is that the shorts cover at a profit, then allow the market to go up a good bit, then WHAM! short even more vigorously, from a better position. Looking back to the post-CSCO and post-AMAT rallies, that's exactly what happened. As long as there are longs who allow the shorts to get off scot free (and with a profit, to boot!), they will keep doing it. The only way to burn the shorts is to close above nasdaq 1750. But that is so far off, I think they will just laugh at us all the way to the bank. Mr. Ork is an example. We've had number of one-day rallies. And they go down the toilet. We haven't seen a positive Friday in months. Maybe the post Independence Day good feeling will carry us through. Have a good fourth - for all. Sarmad

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