Semi Equipment Analysis Message Board

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Technology Stocks : Semi Equipment Analysis

SOXX 302.00

+2.6%

Nov 10 4:00 PM EST

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To: LTK007 who wrote (1460)	12/22/2001 12:33:56 PM
From: Return to Sender	Read Replies (2) of 95390

On TQNT: One man's ugly chart is another's beautiful opportunity. On my chart(s) I see several indications that the selling has just about dried up. First the relative strength is at one of the lowest points in 5 years. Second on a candlestick chart I see a black doji indicating the selling is now matched by buying. The trend is likely to turn. Third the lower Bollinger Band has already been badly violated for a number of days. This does not usually result in anything other than a reversal of trend with such a low RSI unless a company is going bankrupt. TQNT is not going bankrupt anytime soon. stockcharts.com[h,a]daclyyay[d20001222,20011222][pb50!b200!d20,2][vc60][iUb14!La12,26,9!Lk14] Timing is the single most critical element in any trade. I can tell you for a fact that I have watched Keith's (Lemonhead's) Trades for an extended period of time and he does damned good. Personally I would not be surprised to see TQNT hold up okay from here. The next two trading sessions might very well answer a lot of questions. 10.25 is now the only support I am watching because as long as that holds the stock will weather this sell off and trade higher again. If 10.25 fails then all bets are off. That just does not seem likely. One thing I am certain of is that Keith, like me, keeps lots of cash in reserve, so no matter what he can average down on a stock like TQNT to improve his cost basis. Ultimately it becomes a simple waiting game because the next time NOK says business is improving TQNT will trade up 15 to 20% in short order. By then the entire SOX and NASDAQ may be moving into a new Bull Market. It's going to happen sometime next year. Maybe sooner than most of us would guess. RtS

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