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Technology Stocks : Semi Equipment Analysis
SOXX 333.30+0.9%4:00 PM EST

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To: Donald Wennerstrom who wrote (538)5/10/2001 6:49:32 PM
From: Return to Sender  Read Replies (3) of 95712
 
I still think we get some further consolidation from here Don. I no longer think the SOX will see 450 again but the NASDAQ looks like it will possibly pullback to 1900. The SOX has been a leading indicator that the decline was coming. Yes MS is late to the party but they also note that the upturn in earnings will not appear until early next year.

My take is that they were unloading on the unsuspecting today in the knowledge that they will be buying again 4 to 6 weeks from now at much lower prices. Just my opinion! You know I will be buying then too if it actually unfolds as I suspect it will from my charting. Longer term there are few industries capable of as much earnings power as the Semi Capital Equipment stocks or almost any good semiconductor company for that matter!

; -) RtS
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