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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (33150)	6/29/2001 9:49:20 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70576

09:00 ET Semi Capex Cuts : Lots of talk about capex cuts this morning; Micron (MU) said at its analyst meeting yesterday that 2002 capex would be $1.0 bln, down from $1.8 bln in 2001. And last night, Toshiba - Japan's largest chipmaker - said that capex in the fiscal year ended Mar 02 will be $800 mln, down roughly 30% from its plans of just two months ago. Goldman Sachs says that semi equipment stocks will continue to trade flat to down as investors tire of waiting for fundamentals to recover.

To: Johnny Canuck who wrote (33150)	6/29/2001 11:03:52 AM
From: Suresh	Read Replies (1) \| Respond to of 70576

Hi Harry, I am waiting in the wings to short the communication IC semi's.... Buyers who base their decision on fundamentals will not be buying these at the current price levels. Soon after the weak shorts cover their positions it is going to swoon down and probably go down to previous lows. I think MM's have the key to print money... esp. with the way they move the stock price with little or no volume. It would be interesting to see the after effects of window dressing. Later, Suresh