Semi Equipment Analysis Message Board

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Technology Stocks : Semi Equipment Analysis

SOXX 288.52

-0.3%

Nov 14 4:00 PM EST

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To: Jacob Snyder who wrote (47522)	4/22/2010 9:14:55 PM
From: Return to Sender	4 Recommendations Read Replies (2) of 95420

I agree. There are a lot of stocks selling off on earnings that beat even. The market has come a long way. Some individual stocks have had huge runs off the bottom so profit taking is absolutely necessary. Where I get a bit concerned is trying to short stocks in the face of a bull market that we both agree is not over. I would be afraid to short most positions for very long at all. Let me explain why using a chart. Lets look at the market as a whole using the NASDAQ Composite as an example but you could substitute virtually any major market average. Look at the RSI. What you will see is that while the market could sell off at any point in time that we have not yet hit one of the hallmarks of previous true market tops an RSI(14) over 70 on the monthly charts: RtS

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