RtS, What a wild day! I thought we might have a good day, but when it finally finished, it exceeded my wildest expectations. Two key items I believe were greatly responsible.
The first was the announcement by NVLS last night on better expectations for the future based on recent upticks in orders, and the second was the better than expected ISM number, particularly the new orders part of the number.
At any rate, today was something you don't see very often. The SOX is up 11 percent and the group of semi-equips is up 10 percent. The next question is - will there be follow thru next week?
<<Don, does the earnings update data lead you to believe any of these stocks are ready for long-term accumulation?>>
I would say yes to your question. There seems to be a discernable upward bias in the weekly data which is not too surprising. The bad times have been with us for many months now, and with preliminary signs of recovery nearly every day, earnings and stock prices should start to improve.
Having said that however, short term weakness could certainly be in the cards, but in the longer term(6 to 18 months) most, if not all, of the semi-equips should be at higher prices.
Now should be a good time to start "packing the portfolio" for higher prices in the longer term.
By the way, thanks very much for all your work in posting to the thread. Through your efforts, a lot of good information and history is being accumulated. It helps to make the thread a good source of information for those who visit and/or contribute.
Don |
