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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: Proud_Infidel who wrote (4260)	7/24/2002 10:00:23 AM
From: scott_jiminez	of 95490

<<So what you are implying is that this time there will be no bottom to speak of? >> In a sense, yes. Because we are in uncharted ground. Did you listen to or read the congressional testimony yesterday of Citigroup and SSB? Corporate malfeasance is indeed EVERYWHERE and 'US corporate ethics' really really really is a non-sequitor. As these revelations continue to surface, the old rules (read: valuation) do not apply. In the new environment, investors will discount the shenanigans when valuing stocks - guilty until proven innocent - and it will take a VERY long time for this atmosphere to clear. So I believe the current 'bottom-calling' is based on a bunch of assumptions that no longer hold. And that is why all this technical stuff should be COMPLETELY ignored. And when anyone hears the words 'capitulation' or 'oversold' they should close their ears and run like hell: the fact is you are not getting objective or realistic perceptions but opinions from analysts/small time investors who are desperate to recoup their massive losses. (And regarding KLIC, let's just agree to disagree. I understand - and actually agree with to some extant - your point of view. However, despite the 'KLIC as barometer for the industry is ludicrous' pleas in the past, the historical record shows a nice correlation between a move by KLIC and a move in the subsequent weeks and months by the rest of the sector)

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