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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: Donald Wennerstrom who wrote (6509)	10/29/2002 8:05:43 AM
From: robert b furman	Read Replies (1) of 95531

Good Morning Don, Excellent point on volume. IBD likes to look at volume on a weekly basis. Looking at volume on a weekly basis last week was well above the "50 week moving average" on all of the following stocks: AMAT KLAC - big time NVLS TER COHU - slightly ASYT - slightly LRCX - slightly This volume did not occur in the following: KLIC RTEC LTXX It appears this is a big cap phenomenon and that really does smack of institutional buying coming in -especially around Q end - window dressing. I suspect some weakness after the dressing is accomplished - but it also suggests that new lows will be stingy as further accumulation may well occur since this sector appears to be on the look out for institutional accumulation favorites. Certainly goes to show that price precedes sales and earnings.What else is new!! This sector's cycles have always required intuitive anticipation,luck, clarevoiyance,and any other tool you can defy the market's headfakes with. Bob

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