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: Jan Crawley who wrote (6531)	4/30/2001 12:27:21 PM
From: Jacob Snyder	Read Replies (2) of 52237

re: SOX: I've been posting my thoughts (labelled ST or IT trading) on the AMAT thread. The charts of all the semi-equips look like they have been in a bottoming formation since 10/00, and on 4/18 gapped above resistance, came back down to test the new support/old resistance level, and now are headed back up. Way up. However, the fundamentals suck, big-time. Bookings are as reliable an indicator as anything (trough coincident with stock troughs), and they are collapsing. Valuations are at peak levels (at any peak other than the 2000 bubble top). There is a disconnect between the charts and what's happening in the industry. Until consumer confidence, and consumer spending, have troughed, I'll continue to believe it's a bear market, and sell the rallies. I'm betting the charts are wrong, and the fundamentals will prevail.

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