Stock Attack II - A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: jtech who wrote (3346)	3/18/2001 10:38:01 PM
From: Jacob Snyder	Read Replies (1) of 52237

Last time, the bookings and B/B were terrible.....and the semis and semi-equips ignored it. I'm looking at the SOX, and there looks like support at 515, just below where we are now. 515 has held since November 2000. I've heard about 128 semi companies warn so far this year, yet the stocks have quit going down. They are ignoring bad news. Not so sure about the semi-equips, they never go flat, flat is just a temporary (and short) stage between plunging and vaulting, for the semi-equips. If we bounce again at 515, I think there is a good chance that the SOX could do a nice bear rally, to 750. A little 50% move. What it does after that depends on end-demand for chips, which in turn depends on how the economy is doing. Since I'm betting on a U-shaped downturn (of the 1973 variety), I don't see any rally going beyond there, or being sustained.

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