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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 142.62+2.2%Nov 21 9:30 AM EST
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To: Joseph Beltran who wrote (5937)6/20/1998 11:59:00 AM
From: Gary Burton  Read Replies (1) of 10921
 
Those who believe the conventional wisdom that chip stocks bottom about 3 months before chip equips do might find the following interesting as it relates to the 96 cyclical daily low closes.---- LSI,TXN,VLSI,INTC all bottomed on July 23-24 while AMAT,NVLS,LRCX and AYST all bottomed on July 24 as well. A few like KLIC and KLAC put in double bottoms on July 29/Aug1 and then on Sept9/12 but the thing to note is that off the late July lows, all of the chip equips went up 20-35% over the ensuing 3 weeks (AYST up 35%) while all the chip stocks went up 16-40% over the same time frame.-----The inference is that chips and chip equips actually bottom concurrently since the chip equips are already so depressed at the chips' lows.
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