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Technology Stocks : Semi Equipment Analysis

SOXX 328.78

+2.9%

Jan 9 4:00 PM EST

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To: EACarl who wrote (13363)	2/16/2004 12:07:45 AM
From: Return to Sender	Read Replies (2) of 95703

Good point Eric. The NASDAQ is one of the major averages but has it only been the NASDAQ of the major averages that has already corrected 5% and why? Is the SOX now leading the NASDAQ down? Maybe not. However, Don's tables go a long way towards proving that the SOX has not been much of a leader in the market lately. Perhaps we are just consolidating. Any close over 1980 on the NASDAQ remains good towards further gains as far as I am concerned. Lately the NASDAQ obviously has been hurt by the relative under performance of the SOX compared to say the BKX for the Dow. I had hoped a few sessions back that the SOX and NASDAQ would start to lead the market back higher. That could still happen. But now I'm not so certain that the market will escape at least a 5% correction of all the major averages which is why I also mentioned my concerns about the dow transports. Thanks again, RtS

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