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Technology Stocks : Semi Equipment Analysis

SOXX 299.81

+2.7%

Dec 19 4:00 PM EST

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To: Gottfried who wrote (3221)	5/23/2002 12:53:50 PM
From: Return to Sender	Read Replies (3) of 95617

Rumors Buy and sell on the rumor. Ignore the news? The market is in a manic depressive state. Unfortunately it seems to me that the market continues to be subjected to far more depressive days than manic ones. Looking over some of the short interest numbers on many a NASDAQ stock I am struck by how high many of them actually are despite company earnings reports that have been beating expectations. Why aren't analysts pounding the table with renewed buy recommmendations? Are they playing both sides? Long and short? I am beginning to believe that even if the brokerages that the analysts are working for are not shorting stocks they are at least manipulating them to lower entry points. Then they will be coming out with the positive recommendations. They have been doing this for many months. The recommendations come out fueling short covering and buying from those who believe they will miss the beginning of the next Bull Market that has yet to begin. Still the market rallies. Once the positive influence is out there in the form of rumors of better than expected numbers the analysts back off instead of reiterating their buy recommendations and upping their numbers. Take all the good info (rumors) pouring out about AMAT's earning report before it arrived. After it arrived how much information flooded the market about AMAT beating numbers? Not much really. Now the negative rumors begin. Despite evidence that the economy is recovering, even a potential business led recovery, as was suggested in today's economic numbers is ignored as the market (the SOX and NASDAQ in particular) are flirting with a potential test of the September lows. You ask what is next? Well I don't think 500 is going to hold on the SOX. Furthermore I don't think 455 will either. I'm hoarding up my remaining cash and waiting for the Bear Market to roar one more time. Then I'm loading up on the long side. RtS

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