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Technology Stocks : Semi Equipment Analysis

SOXX 314.52

-0.6%

Dec 11 4:00 PM EST

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Sam

To: Sam who wrote (86373)	1/27/2021 8:39:06 PM
From: Return to Sender	1 Recommendation Read Replies (2) of 95572

I remember the stock action back in 2000. Excellent earnings reports were met with selling. We are seeing that now. What led to this action? Same as in 2000. Extreme speculation was going on throughout the market in late 1999 and early 2000. It was not just singularly well run companies that had stock prices flying. It was entire sectors and industries being targeted. There were crowds of investors flying into stocks in the hottest groups one after another. Stock by stock rising exponentially regardless of actual earnings. Short squeezes causing stocks to rise based on pure speculation. It's all fun and games. Like playing musical chairs. *Until you're left with no chair to sit in.* It's worse now than then. Now you don't even have to pay a commission to buy a major margin call. And that margin call is going to come for a lot of people. The little guys will get hurt as I suspect they are getting hurt in GameStop (GME) tonight. I will say that I recall that the SOX started to fall before the rest of the market back then. It can take a while for a market to top Sam but everything I am seeing is suggestive of the formation of a major top. The SOX will no doubt rally back after this correction but for how long? In 2000 the Sox topped in March while the S&P 500 didn't top until August. When will the market top for sure? The SOX is going to give some major clues if it isn't already. RtS

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