Semi Equipment Analysis Message Board

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Technology Stocks : Semi Equipment Analysis

SOXX 348.51

+5.3%

Feb 6 4:00 PM EST

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To: Jacob Snyder who wrote (40156)	9/13/2008 7:19:38 PM
From: Return to Sender	4 Recommendations of 95891

Close to a bottom? Maybe not and I can't say it any better than Headline Charts Blog: headlinecharts.blog.com But I can provide charts that will continue to update. I would like to see a much higher put to call ratio to help point out the formation of a major market bottom: In addition the VIX needs to move over 30, maybe as high as 31, before we will get a bottom. Most major bottoms have historically been formed in the month of October but not all bottoms are major bottoms. We all know that we had a major bottom in Ocotber 2002 but even it was tested in March 2003. But the bottom in Ocotber of 2001, after 9/11, looked like the real deal for a good six months as seen on this chart: To my way of thinking we cannot be certain that the next bottom will be a major long term bottom but if the CPC and VIX get high enough it could quite likely lead to at least a 6 month rally that could be very profitable to the bulls who buy at the bottom. Watching the RSI(14) on charts for trips near or over 70 could be a guide to when to take profits. RtS

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