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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 680.44

+0.6%

Dec 19 4:00 PM EST

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To: Clint E. who wrote (19721)	2/6/1999 7:52:00 AM
From: Iris Shih	Read Replies (2) of 69153

Clint, I tend to agree with Manish's point of view on the market and the semis. I am 1/2 in cash in my trading accounts. Friday's buys are only for short, short term trading only. (1~3 days) Will be gone soon. I have been eyeballing some semis longterm charts for a while. Look at amat 2 year chart. iqc.com I think this time we might get the same situation here. After amat climbed out the slump in '96, it doubled in a few month and then took a pause (in a trading range mood) there for about 2 month (during Feb.~April '97). I agree with Manish's view that we probably have seen the highs of the semis for now. (Maybe amat's report will give the sector a little more boost. But that's it) They will start pulling back to get a long needed consolidation and rangebound for a while. I surely hope we can get one. As intc, longterm views unchanged but shortterm you can see doubts start creeping in. Iris

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