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Strategies & Market Trends : Classic TA Workplace

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To: The Freep who wrote (66846)	2/20/2003 8:52:29 AM
From: JRI	Read Replies (1) of 209892

Econ numbers sux this morn, but market doesn't seem too terribly worried initially here....outlier (g) Pre-market futures pump holding up relatively well.. There seems to be a real determination to raise semi prices...another Intel upgrade as someone else in industry lays off more workers...."Its a bottom", though, and being efficient allocators of capital, major semi/semi-equipment firms are still laying off workers as the turnaround is occuring...A prudent manager lays off workers immediately before an upturn, right? Analysts have better visibility then those in the trenches anyway.. (I remember some data I saw frequently quoted a couple years back- I backtested and was true- that semis stocks generally turn AFTER a 2-3 quarter turn in earnings....however no one wants to miss calling the bottom now...so) Horrible deficit numbers this morn (similar to semi numbers) surely marks a bottom too...surely, they can't get any worse? g

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