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To: Jerry Olson who wrote (1135)	7/26/2002 7:09:07 AM
From: Jerry Olson	Respond to of 1854

HERE'S AN UPDATE FOR THE TROOPS DATED JULY 9TH ABOUT THE SEMIS... $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ Morning all.. Merrill downgraded all the semi equipment makers, this am as they were downgraded yesterday too by another firm... i wanted to address this issue with all of you as well..In Sunday's newsletter i mentioned i would talk about what my sources told me last week about the health of the industry.. it does not look too good...order flow has slowed and targets for companies will be at the lower end of rev's and profits going forward for now... they are still making money, but it definately slowed down here...without the semis moving up the NAZ is going nowhere fast... so let's watch the next few days of this expected pullback off that big time rally last friday... i want to see where it stops, and where it reverses up...yesterday for the first time in a long time i actually saw some bullish signs as the NYSE and OTC made more buy signals than sell signals... of course we can see how fragile the OTC market is compared to the NYSE...both still moving lower on the BP charts tho... look for a sustained pullback this am... it's funny, yesterday the BP Semi reversed up to BULL ALERT in the face of all this carnage...meaning there are NO more sell signals on the charts.. look for 960 spx for some support off that top at 996 area...a solid 30+ point pull back...i like the market to rally later this week...maybe thurs/friday to cycle highs on the 16th-18th... stay cool here...cash is king at night, and scalping is alive and well... best regards jerry sone stock i reaslly like here for a long side trade....OVER--ESST--INTU--MSFT---MO---GILD--IDPH AFTER A PULLBACK...INVN--KROL--- Jerry Olson MasterClassTraders.com jerry@masterclasstraders.com buyitbuyitsellitsellit.com