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: Return to Sender who wrote (47535)	4/23/2010 4:59:31 PM
From: Jacob Snyder	Read Replies (1) of 95420

You are entirely correct, that it would be safer for me to reduce long positions, rather than shorting. What do you think of this chart: stockcharts.com My interpretation: The stock (and sector, look at TAN) are not participating in the bull market that began in early 2009. I can put a ruler along the tops, going from the all-time high in May 2008 (oil at $150) to today. It's a downtrend, defining where every rally has failed. The stock rebounded from the recession lows, with the rest of the market, but only up to that "failure line". My plan: short, in increments, when the stock reaches its 200dma. Cover at 100.

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