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Technology Stocks : Semi Equipment Analysis
SOXX 309.40+1.0%Dec 5 4:00 PM EST
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To: JSLyons who wrote (3573)6/22/2002 2:25:14 PM
From: Return to Sender  Read Replies (3) of 95530
 
Adjusting my wish list downward. Why? Despite the continued selling we have not hit panic levels. Support levels for the individual stocks are falling away. Hard to believe but my RSI reading for semiconductor stocks is actually improving rather than falling with the SOX. In other words this current selling must accelerate for a true bottom to be put in. We will have a tradable rally soon where all stocks will briefly rise but I doubt the September lows will hold for the SOX now after that happens.

As I said before I am expecting a test of the 52 week low for the SOX and a spike of the VIX above 50 before I would buy anything. Strictly speaking sticking with 52 week lows is not a bad idea for any of the stocks on this list but we are now getting some breaking even lower so I am adjusting my targets with longer term monthly charts. 

AMAT - Potential target 13.30 - 52 week low is 13.295
ALTR - Potential target 10.57 - 52 week low is 13.68
IDTI - Potential target 15.50 - 52 week low is 17.16
INTC - Potential target 16.38 - 52 week low is 18.40
JBL  - Potential target 14.68 - 52 week low is 14.00
MU   - Potential target 16.39 - 52 week low is 16.39
TXN  - Potential target 21.68 - 52 week low is 20.10
XLNX - Potential target 14.62 - 52 week low is 19.52


finance.yahoo.com^SOXX+^VIX&d=t

I know some will see these prices as outrageously low but in fact they may be attainable in today's market environment in the days to come. This is the chart I used to pick my updated entry points:

stockcharts.com[l,a]mhclyiay[d19950101,20020622][pb50!b200!d20,2!f][vc60][iUb14!Uk14!Ul14!Lp14,3,3!Lf!Lc20!Lah12,26,9]&pref=G

RtS
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