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Technology Stocks : Semi Equipment Analysis

SOXX 283.56

-1.7%

Nov 17 4:00 PM EST

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To: Donald Wennerstrom who wrote (48765)	7/31/2010 9:28:21 PM
From: Sam	Read Replies (1) of 95427

Looking at the right hand column of each table since the week of 4/23, 14 weeks ago, the indices have gone into the tank while the earnings estimates have increased greatly. This of course has caused the tremendous compression in the PE and PEG numbers over this period. Well, a number of people have commented on this compression over the past week or two. I have even heard some commentators say there is a bigger sale going on right now on growth/tech stocks than he has seen in a very long time. All we need right now, IMHO, is some good macro-economic numbers, especially some good or even decent employment numbers. I can't see how this Friday's can be very good, given the situation in the Gulf which almost surely has led to unemployment that won't be accounted for by seasonal adjustments. But if it does surprise Mr. Market on the upside, there could easily be a melt-up with forward valuations so relatively low along with interest rates at record lows. Yeah, I know, big "If."

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