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

To: Ian@SI who wrote (1131)	9/10/2001 2:28:24 PM
From: Return to Sender	Respond to of 95520

I really believe that more than at any time in any past cycle that investors are concentrating their investment dollars in this space. There has really been so little to get excited about outside of the semiconductors. In any comparison with other industries these companies have large amounts of cash and actual book values in excess of those other industries. Yes the actual technological innovation of leading edge companies is a reason for some of the companies in the group to maintain a high relative valuation within the industry but the semiconductor capital equipment group have outperformed the NASDAQ by some 200% in this market. Last month I thought the SOX was headed back to 650 again but it topped out at 612. Now it looks as though we may test 450 again. stockcharts.com[m,a]daclyymy[pc13!d20,2!i!a1875][vc60][iLc20!La12,26,9!Lw25!Lk14!Lf!Ld20!Lg!Lp14,3,3] Maybe we won't test 450 gain. Maybe we are going back up soon but it could be just as likely that we will head even lower. The point is that we really don't know. Yes the Semi BtB seems to indicate a bottom is in on orders but if we do not see a rapid enough recovery to decrease pricing pressures then PE's will continue to rise and stock prices will be at further risk. RtS