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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: John Pitera who wrote (75370)4/12/2017 9:30:03 AM
From: robert b furman1 Recommendation

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John Pitera

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Good work there John,

weird futures action went to bed last night -32.

Woke up and came out to the tv at 4:00 am and futures were up 22-28.

Now - 23.

Edit now -11 @ 9:23

Since the early top in March we've been in a decline - fairly clear ABC.

I like down in to earnings much better than up into earnings.

I expect earnings overall to be very robust energy, industrials, and chips.

Those good earnings and increased dividends should give us a reversal.

If weak or anemic it will be a B wave that might get us back to where the A wave down started.

That means we have a C wave yet to endure and it will take much more time (into June July). for a complete reset.

A reset where Macd gets all the way negative and not resilient at zero.

I'm a big believer in earnings - that is a must to drive to new higher prices.

Semis have really been churning out many more chips this last January and February - March is not out yet.

The big question is - Have we had a complete ABC or is it a just a Bigger A.

Good earnings and the ABC is over and we continue the bull.

I think that is a possibility.

If so buying the dip is a long term good move - if it just a bigger B up then buying the dip must be a shorter term move.

That's my strategy any how.

Greatly appreciate your thorough time review - great interaction and discussion about the facts = excellent collaboration.

Let's Rock!

Bob
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