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Technology Stocks : Semi Equipment Analysis

SOXX 301.15

-1.2%

Dec 31 4:00 PM EST

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To: StanX Long who wrote (9635)	4/30/2003 10:16:54 AM
From: Return to Sender	Read Replies (1) of 95657

SNIP: The market wrap tonight also mentions that the NASDAQ-100 bullish percent has risen to 70. Thus, 70 percent of the stocks in the NDX are on a buy signal. That's technically overbought territory and a market top cannot be far away. I know we've been saying the same thing about a market top coming due to the VIX and VXN indicators and our cautious statements remain. With the VIX and VXN at lows and the major market indices at resistance (albeit the Nasdaq and the SPX are in breakout mode) this is a crucial decision point for the markets. Given the economic reports coming out this week, it only takes one of them to be the catalyst and have Wall Street use it as an excuse to sell. asianinvestoronline.com Stan, I don't entirely agree with the statements above. I think BPNDX is not extremely overbought until it hits 75: investorshub.com However many of the charts indicate (like the one you linked) that we are indeed overbought so even if I do change my bias to a bullish one I will be waiting for a dip to buy long. RtS

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