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

To: Clint E. who wrote (33664)	8/20/2001 10:40:03 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68423

Hi Clint, I joined you on RFMD. I got few points, but have to admit I do not really like this kind of trading. It is requires way too much concentration and I am trying to take a break of all things! :) It looks like this caused the last hour jump in selected semis. "14:56 ET Book-To-Bill : SG Cowen previews tomorrow's semiconductor equipment book-to-bill; expects 0.70 (plus/minus .03) vs 0.54 reported in June, representing the third consecutive monthly increase; believes trend will continue over the next several months as overall btb ratio climbs toward parity." As Tim point out the billing declined despite the better than expected BTB last month, so it is a distortion of the number. I am not sure there is anything Greenspan can say to get the economy moving right. A quarter point cut is expected. A one half point cut would indicate the economy is worst than expected and probably feed the sell off. He can try to talk the economy up by saying he sees a bottom, but who would believe him. It is going to be interesting tomorrow. We are extremely oversold on some stocks, but the number of stocks one standard deviation below their 200 day SMA indicates we are no where close to a bottom. It is actually quite distributing considering the damage that have been done in a few short weeks. Stocks like AVCI are actually trading only 20 percent above cash, even accounting for the burn this Q.