Befriend the Trend Trading Message Board

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Strategies & Market Trends : Befriend the Trend Trading

SPY 659.03

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Nov 21 4:00 PM EST

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From: Dr. Stoxx	12/11/2006 7:29:55 AM
	of 39683

07:27 Remain cautious on semiconductor sector; notes INTC, NVDA, BCRM - FBR Friedman Billings says their stance on the semiconductor sector as a whole remains cautious following their trip to Asia last week, as it appears that holiday sell through generally did not generate upside in component demand. As a result, firm thinks the industry inventory correction is likely to continue into 1Q. Notebook demand appears to be a notable exception, with stronger 4Q conditions, and optimism for 1Q due to Vista. They believe investors should take a neutral position on the group through the 1Q earnings season. Firm thinks the period after the Lunar New Year (mid-February) will represent the next potential catalyst for the group, as they believe that is the next potential opportunity to see meaningful changes in forecasts. In the meantime, firm still favors stocks in the PC space (INTC and NVDA) ahead of the Vista launch. BRCM is firm's favorite name for 2007, not due to near-term conditions, but rather due to its potential for upside to expectations for 2007.

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