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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: cyanideinvestor who wrote (15454)	4/9/2001 9:22:36 AM
From: 2MAR$	Read Replies (1) \| Respond to of 37746

Niles on Chips : Lehman chip analyst Dan Niles is forecasting the worst year ever for semiconductors; sees 18%-20% decline in 2001 semiconductor revenues vs 17% decline in 1985 (the prior worst yr); believes Q2 semi revenues are likely to be down 10% qtr/qtr with no signs of growth for Q3 other than interest rate hopes. Good bye Mr Chips.... ;-)

To: cyanideinvestor who wrote (15454)	4/9/2001 10:14:36 AM
From: velociraptor_	Read Replies (1) \| Respond to of 37746

No, 1163 looks possible, but a test of the 1152 high could stop it as well, and so can 1145. One of my alternate counts looks like it will be the most valid. On this count, we are still in a wave 2 corrective structure that began more than 2 weeks ago. It is an a-b-c pattern and we are now in wave c so it is near completion. In wave c, we have completed wave 1 and 2 and we are in either wave 3 or wave 5 of c. Wave counts can accomodate either, and regardless, the waves should top out today. The entire corrective pattern is taking on the form of a running correction, meaning it is primarily flat to down and is forming a sideways triangle.