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

To: Donald Wennerstrom who wrote (3086)	5/8/2002 9:41:29 PM
From: Cary Salsberg	Read Replies (2) \| Respond to of 95487

Before today's move, the key issue was if the low after 9/11 was the bottom and if the move up was the beginning of a new bull. I have supported the idea that we are in a new bull and that the 9/11 lows will be tested but not taken out. I think today's move sets up an intermediate low above the 9/11 low and supports the idea that the move up from 9/11 was the first leg of a new bull. I am not sure how high we go in the next few days, but I believe that we will return to this week's low for a retest. I believe that level will hold and the market will move in a trading range between the recent low and the previous high until the 4th quarter. I believe the year will end at the previous high. I speak of the "market" but I am really referring to top quality semis and semi-equips. Overall averages may do worse because of the continuing decline in telecom equipment sales.