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Technology Stocks : Semi Equipment Analysis

SOXX 314.52

-0.6%

Dec 11 4:00 PM EST

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To: Donald Wennerstrom who wrote (40822)	10/11/2008 7:15:38 PM
From: robert b furman	Read Replies (2) of 95572

Hi RtS, and Don, Many on ythe EW threads call this the wave 3 or recognition wave.Surely after this last week most or all understand this to be a bear market. The worst of a bear is the 3 wave.The oversold bounce that results is a wave 5 and the final bottom is a wave 5. The greatest impact of this will be exerted on the stocks that had the greatest run up over the last several years:energy,oil,yes home builders remember,industrial manufacturers. Im hopeful in this wave 4 we see tech get traction. In a wave 5 down the rotation to a new sector can actually be very rewarding. Remember that tech took off in October of 98 and yet the major market indices declined all through the run up going back to the general market top of September 97. We are hoing for the last act in this 2003-2003 rally to new highs. Since both new highs were made in the Dow and the S&P while the NAZ lagged badly - I hope to see a marginal out performance from the NAZ with tech and maybe medical equipment out performing. BWDIK Bob

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