Sampat, we did break the $78 and made a new reaction low, but, we then closed above $78, so it does not count, and for the time being, I do not yet have a peak in the semi equip cycle, as a matter of fact I jumped back into CYMI at $30. According to my turnips, we should now be ready to start an early summer rally, interrupted in about two weeks by "Fed's Fear", but I think we have put in a bottom. If I am right, then CYMI should be able to take out the most recent high at $37 and move from there to the first main overhead supply area at $41 or so.
Zeev |
