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Technology Stocks : Semi Equipment Analysis

SOXX 348.67

+0.2%

Jan 22 4:00 PM EST

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To: Return to Sender who wrote (56844)	7/11/2012 4:57:08 PM
From: The Ox	Read Replies (1) of 95757

When market conditions are right we will have lots of choices for what to buy among the oversold stocks. At that time not many charts will look good at all. RtS The short positions have been growing in most of the networking stocks. I have seen a similar pattern developing in many semi stocks. The downside is tough to wait out but the setup is building for potential quick rises. Volume based reversals are excellent indicators. Take SNDK as an example. The huge reduction in forward estimates has hammered the stock price but looking back at the chart shows a relatively normal pattern of severe drops followed by sharp rises. You don't have to pick the bottom but you do need to quickly recognize the trend change to get on board. The key is to wait out the change, then get on board as the stock dips. For aggressive traders, taking a position when the stock makes a new low --with a tight stop in place -- is a viable strategy. Jmo

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