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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: Ian@SI who wrote (8975)	3/13/2003 9:37:51 PM
From: Sun Tzu	of 95572

My assessment of this market is that it remains the no-buyers market. Only a couple of days ago we had total daily volume of 19:1 down-to-up issues. The volume was low and it was generally accepted that this was because there are so few buyers that any selling will push the market down. Today's action was also attributed to be primarily short covering. Frankly I considered both events sign of market bottom. On a long (or even medium) basis I think now is as good a time to buy as any. On a trading basis, I think we'll continue to have some very volatile days like this one ahead. But for now I'd stay away from more semicaps. ST PS I consider it very likely that Bush will attack Iraq solo. That would send the markets down. On the other hand, if somehow Saddam manages to save his sorry life, then expect huge rallies. Those rallies will have good staying power so it doesn't matter if you miss some of the gains.

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