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Technology Stocks : Semi Equipment Analysis

SOXX 330.38

-4.4%

Feb 4 4:00 PM EST

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To: Kirk © who wrote (14496)	4/15/2004 1:03:20 PM
From: Return to Sender	Read Replies (2) of 95865

Take a look at this monthly chart of the SMH and let me know if you don't see a downtrend in place over the last few months? stockcharts.com[h,a]maclyyay[d19960101,20041207][pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iUb14!La12,26,9!Lg!Li10,10!Lh5,5!Lp14,3,3!Ll14]&pref=G It's dangerous to fight high volume selling until stocks and indices have found sound support. These opportune times to buy are often seen when selling either reaches climatic levels or simply peters out. We are not there yet. I would not be a long term buy and hold investor opening new positions in this market if I were investing Warren Buffett's money. Come to think of it neither would he. Fundamentally the market might look good compared to valuations we saw in early 2000. However the charts don't even look anywhere similar. In 1999 and 2000 the RSI was practically off the charts they were so high but the trend was up until March of 2000. The trend is now down. RtS

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