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Technology Stocks : Semi Equipment Analysis

SOXX 306.14

+0.4%

4:00 PM EST

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From: Sarmad Y. Hermiz	2/23/2006 10:06:07 AM
	Read Replies (2) of 95632

Let's look at the insanity in the stock market valuation of companies. I'll use intel as example. Not because I have a position, but because it illustrates the point. Intel had sold off because a couple of analysts said it's products were experiencing low demand. So one would think that if the economy shows higher level of demand, that should be good for Intel (as well as anyone else who sells goods that employees buy). Instead Intel is today lower, along with the market, supposedly because fewer people are applying for unemployment compensation. Which of course means they are working, which means more Intel computers will be needed by them at work, and they can afford to buy more computers for their home and education. So why is Intel down again today ? Because fund managers who determine prices are acting against sense. How long will they continue ? Until they see someone bigger than they buy the stocks they're selling. And then they'll switch to buying - out of blind imitation and lacking any conviction. Both on the sell side, and buy side.

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