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To: Jack of All Trades who wrote (99299)	5/3/2001 12:41:00 PM
From: patron_anejo_por_favor	Read Replies (3) \| Respond to of 436258

Makes sense, Jack. That correlates well with what Hickey and Earlie have been saying, that their customers aren't ordering anything. Here's an interesting observation on the semi equipment heavyweights (AMAT, NVLS and KLAC). Note the nonconfirmation of OBV in all 3 of their moves up in April: stockcharts.com[l,a]daclyymy[pb50!b200!d20,2][vc60][iUb14!La12,26,9!Lg] stockcharts.com[l,a]daclyymy[pb50!b200!d20,2][vc60][iUb14!La12,26,9!Lg] stockcharts.com[l,a]daclyymy[pb50!b200!d20,2][vc60][iUb14!La12,26,9!Lg] KLAC in particular is interesting...OBV has made successively lower highs since late January. I think these are ripe. Disclosure: SHORT on KLAC and puts on AMAT.

To: Jack of All Trades who wrote (99299)	5/3/2001 12:51:02 PM
From: yard_man	Read Replies (1) \| Respond to of 436258

kind of a strange datapoint locally on that issue -- Litton (PCB biz) -- now owned by ??? -- anticipating a heavy expansion here. Can't remember the count of new jobs, but pretty sizable addition ...

To: Jack of All Trades who wrote (99299)	5/3/2001 3:01:47 PM
From: pater tenebrarum	Read Replies (3) \| Respond to of 436258

thanks for the heads-up. essentially confirms what Earlie has been saying in connection with his most recent field research into various aspects of the tech business. note btw., telecommunication overcapacities are at frightening levels...e.g. apparently only 4% of total fibre optic capacity in existence is actually used at present. estimates of future demand were grossly exaggerated - a typical case of malinvestment fostered by interest rates having been artificially held too low by the central bank during the boom.