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Technology Stocks : Semi Equipment Analysis

SOXX 306.14

+0.4%

4:00 PM EST

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To: The Ox who wrote (11277)	8/27/2003 4:01:01 PM
From: Sam Citron	Read Replies (1) of 95632

As speculation is so easily accommodated in the market, it seems somewhat redundant to engage in it vicariously. If I had any conviction on the direction of SOX, I would certainly trade it. The trade itself would be an embodiment of my opinion. It's size relative to my portfolio a direct expression of my conviction. Indeces are unique trading vehicles. I accept the fact that many traders view the SOX as the wind that propels their sleek racing vessels forward in the regatta of the marketplace. I, however, tend to take a somewhat longer view and prefer to focus on other forces. I see immense value in SOX as a temporary repository for money that is designated for tech but has not yet chosen a home. But I still prefer to park my money in cash until I have exercised my choice. Tech at the moment seems somewhat pricey to me though I wouldn't dare short it. More deck chairs can and will be manufactured for fools and greater fools before the current upsurge collapses. We are soon to enter a traditionally strong seasonal period combined with the strong point of the election cycle so why fight the tape?

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