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Technology Stocks : Semi Equipment Analysis

SOXX 302.84

+2.0%

Dec 2 4:00 PM EST

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To: Kirk © who wrote (10534)	7/10/2003 5:39:03 PM
From: Return to Sender	Read Replies (1) of 95515

Kirk and Don. Good observation on the double top. Also an excellent question on the depth of any pullback. Right now it is really impossible to say how deep any pullback might be. But I don't think the pullback will be very deep unless earnings and outlooks are deeply disappointing. Technically the market has been remarkable since March. The high volume days have been almost all virtually on the upward swings. We sold off today but it was once again on lower volume. In short while I don't believe the market is fairly valued here at all I am not the market. Until we see selling take place on high volume shallow pullbacks are all we should expect. When should we worry? I mean if you are a bull. When we see high volume selling taking place over several sessions in a row. That would be something very bearish. Until we see that kind of selling then the path of least resistance remains up although we should expect some consolidation and pullbacks to the bottom of the trading range along the way. JMHO, RtS

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