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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (32374)	8/3/2000 6:27:04 AM
From: Jerry Olson	Read Replies (1) of 50167

Good Morning Ike and Sons<g>... i have looked at the SOX index via P&F, and several semis charts... all are in peril imo...while we have an oversold sector right now..it can and will go lower before it washs out and turns up later this year.. i think the SOX has minor support at 940, a print of 920 i feel will take this index right down to 840 and then a possible selloff to 760 the bottom of the trading band... INTC if it prints 61 it's going to 53 quickly AMAT a 71 print takes it to 61 KLAC prints 47 heads to 39/40 AMD going to 53.. MU is in a perilous position right now...75 would break a triple bottom and violate the bullish support line taking this stock first to 64 and then possibly to 55... KLIC will be the catalyst for this today as they warned of pushouts because of other companies lack of product/delieveries..... while it's not a bad thing, as we know, there is major demand thruout the industry in all areas of the marketplace...nothing has changed except delivery of the parts...so it has a tricle down effect for ALL users... and the street's sentiment on the industry is very negative..which simply means they are wrong... i would wait to see if the carnage gets a bit uglier first before dipping my toes...i do not think we have seen the bottom in ANY of these stocks or the SOX... nice to see the boys are in the game<G> my regards to all, Uncle OJ.,...

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