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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: t2 who wrote (7695)	11/23/2001 7:44:15 PM
From: ajtj99	Respond to of 99280

NV, the SOXX is at a crossroad right now. It is currently under the rising support/resistance line originating from the October low. That is not good. It is also struggling to stay above the falling resistance line extending from the August pivot highs. It has to stay above 495 Monday to stay above this line. SOXX 518 will keep the index below the rising support/resistance line, and 515-525 has been a range with some resistance if memory serves. The SOXX has broken its uptrend from the October lows. That is not a good thing. As for semi sales, they suck. Prices are barely off the bottom for 256MB RAM, and they are still selling below cost. It is very difficult to make a positive case for this sector right now, especially with projections that the industry will not recover until 2003. NV, I deal with retail everyday. Retail sucks right now. If you give it away, you'll sell it. That is what's happening right now in tech also. Sure you can sell it, if you forfeit any possibility of a profit. If you subscribe valuations according to the Henry Blodgett Amazon model, this is a good thing. However, in 2001 most are looking at a different methodology for assigning valuations.