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: Challo Jeregy who wrote (4630)	4/1/2001 7:53:52 PM
From: Justa Werkenstiff	Read Replies (1) of 52237

Challo: The bull case for the Sox and Taiwan is that Taiwan estimates in chip companies have already been dropped and the market has discounted the event and is stabilized and looking forward. Taiwan chipmakers have reported firmer demand in PC chips of late although communication chips are still in the midst of an inventory correction. I am not sure it is propeprly characterized as a "technical bounce." Bounces come and go but the market has bounced off its low at the beginning of the year and has pretty much flatlined since then. This bounce seems to have legs as the market is range bound: chart.yahoo.com^twii I don't know how to characterize it. It is a piece to a puzzle. I am neutral on the SOX issue as the market has me looking at crosscurrents daily. I mean, the Dow and S & P 500 crater the other week and the Nasdaq yawns. Then a week later the NDX and Nasdaq goes into a retest mode via NT news with the broader indexes higher and stronger than the NDX and Nasdaq above their lows. The Sox craters on Friday and the Nasdaq closes up. It is a riptide market.

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