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Technology Stocks : Semi Equipment Analysis

SOXX 319.58

-1.6%

Jan 8 4:00 PM EST

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To: Jerome who wrote (56333)	5/17/2012 11:08:33 AM
From: Donald Wennerstrom	2 Recommendations Read Replies (1) of 95697

We have been in a downtrend for several weeks now, so it is probably not surprising that certain stocks have started "popping up" that meet extended down days in a row. That's bad for day traders who are looking for a daily bounce or two to "ride the daily trend". We also have certain stocks that have the beginnings of long weekly lows in a row. MU in the SOXM list was down 8 weeks in a row as of last Friday's close. It looks like that will extend to 9 weeks in a row this week at this point, however the week is not over yet so that may change. This performance for MU was noted in Message 28140013 The table from this post is replicated below To address your comment about looking for a "bounce", I just read the following excerpt from Briefing.com this morning as follows", <<The open hasn't been a good indicator lately. The past two days the market opened higher, only to end lower. The action has been very poor and in sharp contrast to the steady buying that lifted the market intra-day in early May even as the overall downtrend commenced. Underlying sentiment is extremely cautious. There hasn't yet been a blowout to the downside and there is a risk one will occur. The market can already be considered oversold, but taking a stab at a bounce is only for those with a high risk tolerance. Even those looking to buy into cheap stocks probably don't risk much by being patient.>> Read more: http://www.briefing.com/investor/our-view/page-one/more-of-the-same-warrants-patience.htm#ixzz1v8irzmqs

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