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Technology Stocks : Semi Equipment Analysis

SOXX 268.10

-4.8%

Nov 20 4:00 PM EST

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To: Donald Wennerstrom who wrote (865)	7/28/2001 8:10:16 PM
From: Return to Sender	Read Replies (2) of 95450

Don I think we have to realize that job cuts are anything but a leading indicator of an impending recovery. Unfortunately many companies are adding job cuts to previous reductions with no idea when they will be adding to their own work force. The truth is at this point all we have is job cuts and the hope of an impending recovery. Many of the stocks that did well this week did not do so for any other reason than suggesting a bottom had been reached to the press. I'm still on record in my belief that we will see an upturn by the end of October but we are in a technological recession now! The SOX really showed much more resilience than I expected this last week. Best case scenario in my opinion is that we see 650 and then sell off again. Worst case we do not even reach 650 before selling down again. As always just my opinion and there are lots of good trading opportunities in this range! RtS

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