Semi Equipment Analysis Message Board

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Technology Stocks : Semi Equipment Analysis

SOXX 296.74

+1.8%

Nov 28 4:00 PM EST

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To: Gottfried who wrote (3909)	7/9/2002 4:58:34 PM
From: The Ox	Read Replies (1) of 95487

OT: G, I think we will see a lot of similar charts when looking at foreign currency vs the S+P500. Money is moving out of most US based stock equities. It's finding new places to work all over the world and it makes sense that some might focus on Japan as a viable alternative. We've seen the euro increase in strength against the dollar as well. The lack of confidence is not only in US stocks but also appears to be directly affecting the dollar, in part due to very low fed controlled interest rates. I also anticipate that we should see oil and NG prices continue their drop. NG in storage is very high for this time of year. There is some expectation that OPEC may engage in a price war to win back some of the market share they've lost. A lot of rumors floating around that OPEC will increase oil production in the near future. We have yet to reverse course and the bear is in full control. It will take a minor miracle for sentiment to change back into bull mode and I have a hard time seeing how the upcoming earnings reports could change the trend.

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