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Technology Stocks : Semi Equipment Analysis

SOXX 305.47

+3.1%

Nov 5 4:00 PM EST

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To: Jacob Snyder who wrote (50518)	1/6/2011 2:47:05 PM
From: Jacob Snyder	3 Recommendations Read Replies (3) of 95368

Began shorting KLIC at 7.53 today. I'll short more every $0.50 on up, and hold at least till it gets back down to the 200dma. This is the first time I can remember shorting a semi or semi-equip in a long time. I'm also considering shorting some of the solars (hi-debt hi-manufacturing-cost companies like LDK and STP) Reasons: 1. The S&P500 is up 23% from the August lows, and we are way overdue for a correction of at least 10%. 2. The SOX is up 39% from the August lows, and it too is way overdue for a correction of at least 15%. 3. Since its April 2010 highs, KLIC has been weaker than the SOX 4. KLIC has warned once, and companies tend to warn again. 5. It looks to me, like KLIC is in a declining channel, with $7.50 as the top of that channel currently.

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