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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 685.33

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Jan 21 4:00 PM EST

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To: Clint E. who wrote (17307)	7/24/1998 6:25:00 PM
From: Tiley	Read Replies (1) of 69928

Clint, Re: Semi and Equipment sectors, if I may: Other than selected semis, the others will be dead money for a while (until a good shakeout, consolidation, lots of layoffs etc.). The Equipment guys will be dead money for at least Jan 99, more likely longer, (possibly early 2000). In fact, I would suggest shorting the equipment grand-daddies - AMAT and NVLS on any rally that might ensue (since they have not corrected to account for the severity of the downturn). My target for AMAT - $20. This downturn in the equipment sectors is not like previous downturns - in fact it might even be worse than the '87 downturn (I hope I have the year right), Later, - MJ

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