MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 694.04

+0.7%

Jan 9 4:00 PM EST

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To: HairBall who started this subject	6/4/2001 5:33:58 PM
From: t2	Read Replies (1) of 99985

Semiconductors were weak today. Now XLNX confirmed earlier guidance in their monthly update, the stock is up afterhours. In addition, Comverse (cmvt) technology beat expectations. XLNX has implications for semiconductor and telecommunications equipment sectors and CMVT has for wireless/telecom. The cmvt earnings were a surprise to me. ALTR had actually lowered guidance for this quarter last week---the main competitor to XLNX. We have the big conference starting tomorrow. Taking the above as a whole, combined with the Dow over 11k, I am concluding that the Nasdaq should go up. OK, I am not just concluding based upon tonight's announcements. I am just adding this to my other reasons for being bullish. Could such small announcements be enough to take the Nasdaq out of its recent range? It will depend upon what the analysts have to say about this as well. The semiconductor bottom calling story has already been played out but the telco equipment sector has so many bears among the analyst community. They seem to agree this sector has a long way to go. In addition, these stocks have not gained much recently. I am just wondering which analyst will turn bullish first to try to make a name for himself. I just wish I had bought into the group today, should be good for at least a trade on the long side. The FA on the group is not good at this time and the analysts have recognized that...but unlike the semiconductors, they are not calling a bottom in large numbers...and that could be a determining factor in stock price. I will be looking to buy communication chip/ networkers tomorrow if I get a chance at a good price.

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