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Politics : Idea Of The Day
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To: Jerry Olson who wrote (17785)4/5/1998 6:47:00 PM
From: Judy   of 50167
 
SOX and semis and semi equip makers

I am comfortable with the market and with SOX. The market will backfill and consolidate, the movements in the DOW and NAZ indices may not be spectacular nor truly reflect the strong movement of funds from one sector to another. While SOX is the weakest index and will go down with the market, it will go down the least and I'd expect it to surge up with a vengence when funds rotate back into the sector. Just as investors were caught flat-footed when funds rushed back to the telecoms, they will also be caught flat-footed on the semis and semi equip makers ... and I will not be caught flat-footed.

Semis and semi equipmakers make their moves in legs, both on their up and down cycles. First leg up was from Jan to Mar already occurred, they went to top of range. Whether they float back to bottom of the first leg or consolidate for the move into the second leg up depends on earnings and forward guidance. Thus this will be company-specific and not across the broad sector. KLIC and KLAC warned, TER and NVLS should not, AMAT I have no idea whether it will or not and could care less. Why jeapordize a 2-3 bagger for a measly 7-10 point down on the whims of the market? FWIW I did not chase the sector at the top, nor will I waiver from buying when sentiment is abymal. But I will select the companies carefully.

And my dear OJ, I mentioned to you from day one which stocks and in which order I shall be accumulating. Stay tune for post on INTC, sweets.
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