The only way that the equipment guys can go up without the semis is if a technology war forced the semis to keep buying equipment, as happened last year with the memory makers, and also with the cpu makers. It also happened in disks last year as VECO went up while SEG, WDC, APM, and RDRT etc plunged, but it eventually caught up with VECO as well as the semi equipment sector.
As for which stocks bounced the most, it was not the beaten down stocks at all, but the darlings. Among the leaders in the equipment sector in bounce off the bottom were wall street favorites (mostly larger cap) like NVLS, COHU, AMAT, PRIA, TER, and our old friend VECO. All are up 5-8% from their bottom. The fact that most leaders tended to be larger cap also makes me suspicious that the rally was people getting in with the plan of getting back out.
We'll just have to see what tomorrow brings. If MU and INTC do rally I'll probably hang on to my equipment stocks, but otherwise I may bail fairly quickly.
Good luck,
Carl
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