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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 683.31

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Nov 12 4:00 PM EST

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To: Suresh who wrote (36025)	1/30/2002 3:52:38 AM
From: Johnny Canuck	Read Replies (2) of 67879

Hi Suresh, It is good to hear from you. I can't figure out what is keeping the semi equipment companies up. I just can't see the foundary capacity being used up for a few Q's yet if at all this year. The fundamentals of the chip companies don't look at that good. The low revenue numbers are just plain scary and still indicate plenty of inventory in the channels. What do you think of the break of TYC and what do you consider the strongest components.? We are starting to hear about the ripple effect of ENE on the financial institutions. That plus fall out of the bankruptcy of GX should weigh on the market and economy for a few months at least. Intermediate term, I would expect bad loan loss provisions to rise. Despite Bush's anticipated stimulus package, I don't think the economy is setting up for a sustained and quick turn around. For me the early signs of traction in the economy in the Sept Q is still a 50/50 proposition. Our part of the country is seeing a major restructuring. The provincal government is doing massive government employee layoffs, and cutting government subsidies. Despite the low interest rates, everyone is keeping their hands in their pockets. I don't know who being all these new homes the economic reports are indicating. What is the mood on the street in your part of the country.

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