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Technology Stocks : Semi Equipment Analysis

SOXX 309.40

+1.0%

Dec 5 4:00 PM EST

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To: Donald Wennerstrom who wrote (11790)	9/24/2003 7:16:03 PM
From: Sarmad Y. Hermiz	Read Replies (1) of 95530

>> Today, all 25 stocks in the Group were in the red and all 18 stocks in the SOX closed in the red. Hi Don. Finally, the shorts have something to celebrate. Of course as soon as they try to cover, their celebration will turn into wailing and gnashing of teeth. I don't at all understand the ferocity of the selling today. And what was the reason ? I guess there wasn't a reason. So now that the weak hands got booted off the train and into the gorge, I say good riddance. I can't imagine a sane buyer of Altera who would say to himself "gee, OPEC is cutting oil production. I better sell." And since the treasury auction went quite well, we can't say foreign investors were dumping American assets either. So we're back to the old modus operandi of shorts putting their dollars together on que at 10:00 AM and started selling. They've done it before, and it does work for a couple days. But a look at the NASDAQ chart for the past few months should convince anyone that the method fails very quickly. Hopefully, a good employment number tomorrow will put a stop to this foolishness. Sarmad

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