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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: SpecialK who wrote (1017)	8/21/2001 7:13:45 PM
From: Donald Wennerstrom	Respond to of 95757

SK, It's clear that 6 months prior to June, the Semi equipment group bottomed, when the bookings bottomed. According to the latest data, the bookings bottomed in April which would be approximately 4 months ago. If this "recovery" follows the last recoveries, bookings should proceed to trend higher, creating a new cycle, until such time as the cycle peak is reached. I suggest going back on this thread to review some of the tabular data that has been posted previously to show "cycle data". Also, Gottfried has posted many charts that show the data in graphic form. If bookings continue at current levels, and billings continue to fall, it's natural to get BtB back to 1.0. But when that happens, does it mean that the stocks are at fair value? I don't think there is any relationship between BtB and the associated stocks concerning "fair value". Don