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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: Return to Sender who wrote (40190)	9/15/2008 4:10:43 PM
From: The Ox	2 Recommendations Read Replies (2) of 95888

When there is "forced selling" going on in the market, there is no easy way to pick a bottom. When companies the size of ML and LEH are being taken under/over and forced to liquidate any available asset, then the selling can continue to be one sided for a long time. These types of actions have ripple effects that are going to take time to play out. Not to mention that the market gyrations we've seen in the past 5 months or so, are also creating additional pressure points as large positions which looked solidly positive (even a few days ago) are now turning negative. A perfect example is ACLS. They turned down an offer of $6/share back in March, if my memory serves me. One of their "activist" owners was suggesting that anything under $7 wasn't fair. The stock jumped from $4 to $6 and bounced around in between. Now, the $6/share offer is being taken off the table. What happens? Stock drops from $4 to $1.25 earlier today!!!! $6 wasn't good enough for the company, so today the market places a $1.40/share value on it?? Is this a classic over-reaction? Sure looks like it. jmo TO

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