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Technology Stocks : Semi Equipment Analysis

SOXX 312.18

-0.2%

Dec 9 4:00 PM EST

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To: Sam who wrote (81700)	11/17/2018 4:58:40 PM
From: Donald Wennerstrom	1 Recommendation Recommended By Return to Sender Read Replies (1) of 95541

The person who wrote this article is a real "bear". Also predicts a decline to the 950 area. Semiconductor Bear Market Could Trap Complacent Shareholders By Alan Farley \| October 17, 2018 — 1:21 PM EDT investopedia.com The index has now completed a complex head and shoulders top that predicts a decline to 950 or so after a breakdown. Lots of bears out there in market land predicting "doom and gloom" for the sector. The following simple chart for the SOX shows the monthly action since January 2001. Some selected price points are shown along the way. Eyeballing the chart, some points along the way over the past 17 years can be viewed. For one point, the SOX did not get back to the Jan 01 level until the year 2015. Then about a year of pullback until the level was again reached in 2016 at the 750 level. From that point the "good times" continued into March of this year. The index stalled at that point around the 1450 level and is now in a downtrend. From the March level of over 1450, this weekend the SOX closed about 1220, about a 230 point pullback from March. If the SOX is to find a bottom around 950 that is another 270 point pullback in the offing. Since March the SOXM bottom line earnings estimates have continued to increase and are still ahead of the March level. In March the estimates were 125.58/135.64 and now are 135.23/146.64(+7.7%/+8.1%). During this period the SOX has lost about 230 points(-16%). A lot of volatility lately. Hard to tell how this is all going to end. Lately the trend is down as shown by the weekly posts. As usual, just have to wait and see. The market is on an emotional roller coaster ride and not paying much attention to the fundamentals.

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