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Technology Stocks : Semi Equipment Analysis

SOXX 305.32

-0.2%

Dec 29 4:00 PM EST

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To: Donald Wennerstrom who wrote (17772)	8/7/2004 7:38:23 PM
From: Return to Sender	Read Replies (1) of 95646

Don't ignore the VIX Don. From the same report that day: Message 18094901 12:52PM Volatility Index nears record levels : -- Technical -- Currently trading at 49.90, the volatility index (VIX) nears the important 50.00 level. As a frame of reference, the index has one close above 50.00 in the past decade -- that was earlier this year on July 23 at 50.48. I think Briefing.com knew a whole lot better than we did that an important bottom was forming although Gottfried and I were sure thinking it might be one. The point that I have been attempting to hammer home is simple. We have only enough fear and negativity in place currently for a short term market bounce. This is correctly what Briefing.com expects. When the bounce comes I hope people will see it for what it is and will not be thinking that this is a continuation of a bull market. This cycle is over. The top is in but the real blood has only barely begun to run in the street. Value is a relative term. We will see much better values at the next real bottom. Value that has got to be measured correctly by price to book and price to sales. Price to earnings do not matter. If they did then this sector would be trading at new highs. As always just my humble opinion. Thanks for the excellent tables. RtS

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