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Strategies & Market Trends : Steve's Channelling Thread

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To: SBHX who wrote (3532)	7/24/2000 5:08:12 PM
From: Zeev Hed	Read Replies (3) of 30051

sbh, don't back the truck yet. You may want to read this opinion: biz.yahoo.com The fear is oversupply and competitive pressures from AMD and INTC as SSTI moves into the 16 MB arena. The break of $75 may be an indication that we are closer to the peak in the semi market than I thought. If we cannot take out the $88 area on the next rally, I would change my current bullish opinion on SSTI, if, of course, we get that rally. Today we got pretty close to the Max risk I suggested last week, but did not get much of a bounce from under 4000 on the Naz. That fact might be a "shot of the bow" of the monster rally. Zeev

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