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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: UnBelievable who wrote (5030)	10/17/2000 6:44:55 PM
From: Joseph Silent	Read Replies (2) \| Respond to of 19219

Unbelievable & JT .... Things like RFMD, AHAA, ACTL (I think) etc, also CMTN .... took big hits after the close. I'm wondering how this will affect the SOX open tomorrow ..... and, of course, also after the open. The incessant selling is getting dull. Besides the shorts, I'm wondering who profits from selling here.

To: UnBelievable who wrote (5030)	10/17/2000 11:24:06 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

Unbelievable, SOX breaking SOX 662 is no insignificant feat.. It underscores the hemorrhaging going on in the broad market and how perception becomes reality... I have mentioned many times in the past year that any collapse in confidence will lead to a collapse in prices... and this is exactly what has happened... That said, I think SOX can possibly get down to this SOX 580 intraday low and then begin another bounce going into early December to SOX 880 area above the 25 day MA... Today the SOX closed at SOX 648 down 66 down 9.3%... In one day no less...We will find out soon enough tomorrow if SOX 662 break today was a one day false break or more carnage ahead for new lows... Keep in mind that this is the worst correction we have had in semi's and tech since 73-74... Today markets move with lightning speed with immediate access to information... I did not buy any INTC (36 3/16) prior to the report, but this stock is becoming more compelling at these prices in light of the year end bounce...I think INTC 52-54 target underneath the 50 day MA is not unrealistic b/w now and early December... Best Regards, J.T.