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Technology Stocks : Semi Equipment Analysis
SOXX 309.36+2.2%4:00 PM EST
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To: Donald Wennerstrom who wrote (76682)8/13/2017 7:28:12 PM
From: Return to Sender3 Recommendations

Recommended By
Donald Wennerstrom
Sam
The Ox

   of 95520
 
Thanks Don for showing that but why not place all the data in your tables below your chart. It's all here in this post:

Message 30950308

Your data shows that Book to Bill and actual money spent on chips can rise substantially even as the market falls.

As far as MU goes my point is much the same. All the data points to strong DRAM pricing going into the immediate future. But even if MU continues to beat forecasts and raise guidance stock prices can only rise when there are more buyers of shares than sellers.



The stock is right at its upward moving trend line on the weekly chart.



In addition the monthly chart shows the stock has undergone a high volume reversal.



I think MU is a better company than ever. But the current uptrend that began in 2016 started while market breadth was awful but improving. Market breadth now is becoming bad but is a long way to awful. Most importantly sentiment in early 2016 was overly bearish. The reverse is absolutely happening now. The bullishness in the Investors Intelligence Poll will no doubt fall with the recent rise in volatility but this is not early 2016.

MU needs to get back above some trend lines shown on the charts above or the best time to hve taken profits may already have come and gone for this current cycle.

Strong chip prices, good book to bill numbers, low P/E's and PEG's do not guarantee higher stock prices.

Probably can't hurt but you understand what I am saying.

There is not blood in the street now despite the recent selling in stocks. My next post of monthly stock charts for the SOX components will show that for most of the stocks.

RtS
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