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Technology Stocks : Semi Equipment Analysis

SOXX 302.00

+2.6%

Nov 10 4:00 PM EST

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To: Donald Wennerstrom who wrote (13776)	3/7/2004 6:48:24 PM
From: Return to Sender	Read Replies (1) of 95390

Don, for those interested all the stocks listed in your table (plus A) can be found in 6 month chart form by clicking on the link below and checking the next few posts: investorshub.com Thanks for the updated table. It's very encouraging for those of us who are long that the SMH and SOX continued to hold up well despite the double whammy of INTC's lowered expectations and the disappointing jobs numbers. amateur-investors.com investmenthouse.com There is however a not so subtle bit of sector rotation taking place as was highlighted this weekend here. SNIP: SECTORS AND EXPANSION stockcharts.com Relative strength or price relative charts provide an idea of which sectors will lead and lag over the next few weeks and months. These are formed by dividing the Sector Index by the Wilshire 5000 or another broad market index. These particular four sectors are positioned according to the place in an economic expansion in which they perform best. Techs and Transports are supposed to perform best during the early expansion phase, while Basic Materials and Energy perform best in the late expansion phase. Sector performance suggests that we are in the late phase of an economic expansion. Techs are starting to weaken as the price relative broke below its trendline and Transports have totally fallen apart. The two standout performers are Energy and Basic Materials. Relative to the Wilshire 5000, the Energy SPDR (XLE) broke above resistance in December and continues to forge new highs. The price relative for the Basic Materials SPDR (XLB) fell earlier this year, but bounced in February and remains in an uptrend. And as always we need to be at least aware of where the market has itself priced on a historical basis. Hint... Higher than average! nytimes.com Anyway, thanks for the tables. Great work as always! RtS

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