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Technology Stocks : Semi Equipment Analysis

SOXX 299.81

+2.7%

Dec 19 4:00 PM EST

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To: Donald Wennerstrom who wrote (41270)	11/1/2008 1:18:03 PM
From: Donald Wennerstrom	2 Recommendations Read Replies (1) of 95617

The 6 week percent table for the SOX is full of red. The following weekly chart for the SMH is a surrogate for the "semi" area and shows price and volume action since the 1st of the year. Going back to the beginning of the year, SMH had been "oscillating" around the 30 area until the middle of August when it started its latest downtrend. Since that time there has been 9 red candles and 2 green candles. A week ago Friday, 10/24, SMH hit an intraday low of 17.02, a 43 percent low from the 30 area. As of this past Friday's close of 20.75, SMH has rebounded 22 percent from the 17.02 low. Even with that nice bounce, a further gain of 45 percent is needed to reach 30 again. Also of course, there is no guarantee the uptrend will continue without some pullbacks along the way, and in the worst case, a new low could be established.

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