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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: Return to Sender who wrote (877)7/28/2001 9:40:12 PM
From: Donald Wennerstrom  Read Replies (1) of 95451
 
Last week was atypical because the NASDAQ was unchanged for the week while the group and the SOX were up 4 percent and 5 percent respectively. From a long term perspective I have noticed that the "Beta" of the group and the SOX are roughly 2 to 1 compared to the NASDAQ. Usually the 3 indices go in the same direction, but not last week.

In general, the stocks in the semi equip group followed the NASDAQ last week - down on Monday and Tuesday with increases the remaining 3 days of the week. The semi equip group and the SOX were much more exuberant than the NASDAQ, however during the last 3 days.<g>

I am not as confident as you about the turn around being by the end of October. I think the situation is pretty dicey right now. Consumer confidence is all that is keeping this market going. Now with the job cuts - that are accelerating recently - consumers may start to pull back more rapidly. If that happens before the tech and manufacturing area start to show signs of recovery, it may be a lot longer than October before this market turns around.

I do agree with your assessment of good trading opportunities in this business climate, but it is hard to keep up with the market schizophrenia!!<gg>

Don
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