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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: Sarmad Y. Hermiz who wrote (3827)7/3/2002 12:34:21 PM
From: JSLyons  Read Replies (3) of 95530
 
Hello Sarmad,

You've posed some good questions, with few obvious answers. But here are a few thoughts, all the same, on some likely sellers: mutual funds seeking redemption capital; pension funds and 401-k funds covering rising demands for cash or bonds; followers of "sector rotation"; tech investors on margin...some insiders... etc. There are plenty of usual suspects.

I think it is worth pointing out that much of "public" Wall Street is virtually geared toward buying high and selling low. Almost no one complained about tech "valuations" in 1999 and 2000. Likewise, suddenly these stocks are getting hit with downgrades. I see some genius just downgraded GNSS. It's already lost some 85 percent of its value in the last 6-8 months. So why now?

I've begun filling my AIM buy orders over the last few days. I am particularly pleased when I can either lower my average cost of a holding significantly (KLIC), or get in below my Sept 01 low (TRKN). RtS and I are both watching and waiting for ASYT but it won't fall fast enough.

I'll be a net seller again when these things finally start to move (and they will move one day), selling partial positions on the way up.

Best rgds,
Jonathan
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