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Technology Stocks : Semi Equipment Analysis

SOXX 301.15

-1.2%

4:00 PM EST

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To: Return to Sender who wrote (9677)	5/3/2003 1:45:17 AM
From: Kirk ©	Read Replies (1) of 95656

I guess the point I was making is that the volatility lately has allowed the market to regroup each time it has become overbought but this can only go on so long unless we have indeed put the bear market behind us. Technically the action in the market has been tremendously positive. The volume today was awesome. The Wilshire5000, which is THE market, looks to have hit an "official bull market level" today as it is up 20% and over a 6 month or greater period. cbs.marketwatch.com Zeev is now "neutral" and more and more bears are slowly melting... As long as most the "experts" on CNBC are scratching their heads... we are probably OK. :) Velociraptor has been quite accurate and he is predicting we roll over early next week, but we've already gone much higher than he thought not too long ago. SteveLee and Larry Dudash have had good success in the bear with their "models" but they are both sitting on large losses in their last shorts now. Those are four people who have done well as bears that I've followed and none "went long" from what I can tell last October where the QQQs are now up 40% from that date. This might be the sign of a turn when we'll get a new set of guru's or the market will make them right again. <G> My only concern is that while the majority of the BP charts suggest that the market can continue to get more overbought every other chart says we are in top mode. Make sure you now look at charts back to 1990, or at least 1994, to see how the indicator behaved before you base conclusions on it....

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