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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 155.15+2.1%Nov 26 3:59 PM EST
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To: Zeev Hed who wrote (9961)6/11/2001 9:32:25 PM
From: WTSherman  Read Replies (1) of 10921
 
OK, the tax discussion is a lot more interesting than the advertising discussion... Nonetheless, anybody care to talk about semiconductors?

My take on the current state of affairs is that the recent general tech rally and the more dramatic semi rally were premature market ejaculations, so to speak. I think its starting to dawn on a lot of folks that there is no near term reversal coming for the U.S. economy and that much of the rest of the world is heading for the same kind of economic performance that the U.S. has seen for the last 2 or 3 quarters.

It seems to me that the primary reason for this was a total disregard for the effect on other economies that a slowdown in the U.S. would have. Corporate executives were as guilty as the anal-ists in that regard, talking up their overseas prospects as a savior for their declining U.S. sales.

All of this is very ironic since both anal-ists and execs have spent the last five years babbling incessantly about the "globalization" of the worlds economies. Well, if there really was a globalization that had taken place how could a dramatic slowdown in the biggest component of the "global economy" not have serious ripple effects???

Bottom line is that I doubt there will be any significant improvement in corporate earnings for at least another year as overseas sales wipe out any modest upturn in U.S. business that occurs. SOXX may be headed for 500 in fairly short order...
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