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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: dawgfan2000 who wrote (5723)4/12/2001 6:27:44 PM
From: Jacob Snyder  Read Replies (2) of 52237
 
Lots of semis and semi-equips closed just below strong resistance levels today:

AMAT, resistance at 50-52
NVLS, 48
KLAC, 47
TXN, 36
plus the ones you mentioned.

There are two possibilities here:
1. all those stocks break above resistance, and we get a huge bear rally, SOX goes to 750, or
2. everything stalls, and we go on to new lows.

The next 1 or 2 trading days will decide. FWIW, I bought NVLS puts at the close today. If TXN doesn't close above 36 on Monday, I'll take profits on my calls.
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