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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: Return to Sender who wrote (36149)10/7/2007 6:06:56 PM
From: Donald Wennerstrom  Read Replies (1) of 95390
 
The observation in the report goes along with the lack of earnings growth in SOX estimates. From the report you just posted,

<<Meanwhile another thing to keep an eye on is the Semiconductor Sector as tracked by the (SOX). Normally the Nasdaq and the SOX pretty much move in the same direction however when they begin to diverge that is something which can't be ignored. While the Nasdaq has been moving higher the past month (points M to N) the SOX has virtually gone nowhere. The last time this type of divergent pattern developed was in the early part of 2006. Notice back then the SOX peaked in early January (point O) while the Nasdaq still trended higher through the month of March (points P to Q). However as the SOX continued to trend lower the Nasdaq eventually sold off as well (points Q to R). Right now it looks like a similar pattern could be developing as the SOX potentially peaked in mid July (point S) and if the weakness continues eventually this may pose problems for the Nasdaq as well within a month of two unless the SOX can begin to make a significant move higher in the coming weeks.>>

The table in,

Message 23946663

correlates well with the above paragraph.
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