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Technology Stocks : Semi Equipment Analysis

SOXX 296.20

-0.6%

Dec 16 4:00 PM EST

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To: Return to Sender who wrote (54547)	11/6/2011 6:27:11 PM
From: Donald Wennerstrom	2 Recommendations Read Replies (1) of 95587

RtS, I think you are right about several things including the issue of PE values. A lot of things are more important such as the U.S. and World economy at this point. Just look at the volatility this past week. Everything was dependent on what was happening in Greece. Forget about the earnings reports here in the U.S. and elsewhere. It is getting to the point where a person has to be a day trader in order to stay financially healthy. And don't buy too early in the morning until the market has decided what way it is going to trade for the day - up or down. <<Does it matter whether the P/E of the S&P 500 is 19.6 or 15? Probably not much. What matters is does the rally that started in early October have legs? Or is it doomed to failure leading to lower prices for stocks? I don't know but I respect the work done by ECRI enough to wonder.>> I am really interested in what ECRI has to say tomorrow. Let's see if they are wavering a little bit in their recession call. Looking at the last few weeks of the SOX, the uptrend during the 4 weeks was nice after the 2 big bad weeks at the last of September. All we have been doing since July is bouncing around in the 325 to 400 range. This past week saw a liitle of a pullback which could easily continue this week. Again, it will probably depend on what happens in Europe, not the U.S. I look at the tables just posted this weekend, and I don't see anything that looks like it would spark a further rally. The only thing of interest is this is normally the time of the year when the market likes to rally, fundamentals to be ignored. Don

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