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Strategies & Market Trends : Joe Stocks Trader Talk

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To: Joe Stocks who wrote (150)	2/8/2002 7:24:33 PM
From: Robert New	of 787

I took PMCS short today as well...i like the triangle its forming and when it breaks down should be good for a few points...stock is trading at 88x 2003 earnings. Covered my KLAC position as with AMAT out wednesday the semi's are likely to ramp up in advance if this rally continues...looking for a better entry early next week. The semi's are really looking toppy here...esp like KLAC, XLNX and MXIM short on rallies... After 5 days down some giveback was expected. Like the fact that we moved back up on light volume and was good to see the VIX pullback quickly...down over 2 today. The internals certainly dont suggest that we are at any meaningful bottom as of yet and the downtrend continues. Thus until things change I'm shorting the rallies in tech.

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