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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 665.67

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To: j g cordes who wrote (36532)	3/22/2002 10:23:21 AM
From: Johnny Canuck	Read Replies (1) of 68067

I remember about three years ago, the semi equips bounced before the interest turned. The analysts kept recommending them. All of the analysts want to be the first to call the turn in the sector. They were wrong for about 18 months, but in the mean time the semi equip amd semis trades a really wide range. When the cycle final did turn, the semi equip and semis rallied to new highs and outrageous P/E's. I am not sure that this can happen again. After two years of slaughter, traders are a lot more cautious. They want to see the turn now.

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