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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Shtirlitz who wrote (54778)	6/20/2000 9:35:00 PM
From: pater tenebrarum	Respond to of 99985

Shtirlitz, imo the SOX discounts all the good news in spades by now. it is also probably one of the most overowned sectors of the market. what's more, considering this is a cyclical industry, the valuations are truly staggering. of course at the top of the semi cycle what you get to hear is that the cycle is dead. very few analysts on WS are capable of picking the tops and bottoms of the semi cycle in time...and the industry association's forecasts tend to be the rosiest right at the top too. i also have a very dim view of INTC at its current valuation. regards, hb