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Pastimes : Ask Mohan about the Market
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To: Judy who wrote (13510)1/27/1998 5:05:00 PM
From: Zeev Hed   of 18056
 
Judy, I read your post on the other thread, but I think it might be a little early to celebrate higher lows since the highs are also getting lower creating, as you call it, a spring action, it all depends at the end of that triangle formation which way it breaks. From a fundamental point of view, the weakness we have seen in the last six months in the semi and semi equip. segments have not been reflected yet in the deterioration of the fundamnetals such as less than 1 BTB for the semi equip (the semi no longer report that number, unfortunately). We had just one reading of .99 for the BTB in the semi equip segment, far from enough doom, IMHO to signal a bottom. So my guess is that the resolution of the triangular formations seen in many semi equip will be like that of the forerunner (LRCX) who just made a new low yesterday and today. LRCX was one of the first to break down, and while it may also be one of the last to break back up, I would worry as long as the weaklings keep making new lows.

Zeev
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