Semi Equipment Analysis Message Board

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Technology Stocks : Semi Equipment Analysis

SOXX 306.55

+0.4%

Oct 31 5:00 PM EST

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Julius Wong

Sonali

To: Return to Sender who wrote (92388)	8/5/2024 10:16:31 AM
From: Return to Sender	2 Recommendations Read Replies (1) of 95333

Headed into the worst couple of months for the market on a seasonality basis I hope everyone has avoided being on margin. That is I hope we all have lots of cash. Today is the kind of day that usually gaps down and then rallies back. I am not buying the dip. I want to see an absolute bottom form. That means I want to see a 90% upside day, or 2 80% upside days in close succession. I also would like to see more bears than bulls in the Investors Intelligence Poll. We are so far from these market bottom hallmarks that it is laughable. We are incredibly oversold within semiconductors with BPSOX having ZERO buy signals. My last check showed BPNDX at 32 out of a possible 100 PnF Buy signals. That's bad but not necessarily market bottom bad: Maybe by late September or early October we will have one of the best buying opportunities of our lifetime. The FED will be lowering rates which ultimately will light a fire under this market. But from what level? Probably lower... wait patiently for the the proper signs of an actual bottom. RtS

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