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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 683.47

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Nov 28 4:00 PM EST

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To: Johnny Canuck who wrote (36118)	2/7/2002 1:40:54 PM
From: Johnny Canuck	Read Replies (1) of 68426

Goldman Tech Conf Takeaways : -- Before Open -- Companies remain cautious in the near-term; consensus opinion appears to be bleeding into longer-term growth estimates, blunting outlooks for 2003 and beyond; Goldman cites that (1) while companies appear optimistic for a H2 recovery, no one seems able to offer clear evidence of this (2) estimates for 2002 remain very low; the highest forecasts calls for growth in the low single digits (3) Mar qtr conditions suggest the reality of a business environment that has stabilized at low base levels (as compared to the Dec qtr rebound). Goldman believes there is a possibility of widespread revisions to long-term growth outlooks. Firm cites a positive in the Comm IC sector: companies seem to exhibit a collectively more positive tone than the rest of the tech sector. Goldman Tech Conf (Day 3) : -- Before Open -- EXLT gave an upbeat presentation and mgmt reiterated confidence in their 2002 EPS $0.03 profit (vs loss of $0.58 in 2001), benefiting from the ramp in profitability of the maturing contracts. INTC made no change to its prior guidance given on the Q4 earnings call and commented that Jan business was on target with where the company thought it would be; company expects capex to be pretty linear over the course of the year vs. 2001, which was front end loaded.

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