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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 670.92+0.1%Nov 7 4:00 PM EST
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To: eichler who wrote (80361)7/17/2001 1:52:23 PM
From: t2  Read Replies (4) of 99985
 
Eichler, that bounce coincided with the confirmation of earnings guidance by KLAC, another semiconductor equipment stock...that is more suggestive of a bottom in that sector and the market may be reacting to that possibility.
Of course the real bottom in this business may or may not be now but KLAC news tilts the scale in favor of those that believe we have hit bottom in semi equipment.

Intel just turned positive!
even after the analyst who downgraded today believed it should be below $20.
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