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Technology Stocks : Semi Equipment Analysis
SOXX 314.52-0.6%Dec 11 4:00 PM EST
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To: Return to Sender who wrote (12847)12/29/2003 6:33:24 PM
From: Donald Wennerstrom  Read Replies (2) of 95567
 
RtS, OK - that's good - a little difference of opinion between you and I. A little bet on the side about how this next 2 to 3 week period is going to turn out.;-)

I addressed a post to Sarmad several months ago where I made a little "straight line projection" of the NASDAQ for the next few months and with a little "tongue in cheek" guess, suggested that we might hit 2300 in January. That may be a little high at this point since the last 4 months has seen a "flattening" of the straight line projection, but I still expect to see the NASDAQ approaching this number in January. We had a start today with the NASDAQ closing at over 2006. It was up over 33 points today - at that rate another 100 points is only 3 days away.;-)

It is certainly true that the Group, SOX and NASDAQ have very high valuations at this point in time, but(excluding today) since the "local" high on 9/8, not much has happened. A lot of "bouncing around" has been going on, but very little upward movement. The recovery news for the economy and semi area, has in the meantime, been steadily improving.

I think what we saw today was a growing recognition that the business outlook continues to look good and is constantly improving - time to make another upward movement in the SOX and NASDAQ. Valuations will be extended further than they are now - but what the heck - that has never stopped the market before when it wants to go forward.;-)

Don
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