Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Kirk © who wrote (9155)	3/26/2003 2:57:23 PM
From: Return to Sender	Read Replies (1) \| Respond to of 95640

A couple of points. First one supporting what you had to say would be the changes that took place in the NDX on Dec 16 2002. Here they are: Dec 16 2002 - 7:27 AM In Play Nasdaq 100 changes : The Nasdaq announced the following changes to the Nasdaq 100 effective at the close on Dec 20: Additions - EXPD, ROST, XRAY, LAMR, WFMI, FHCC, PETM, PIXR, FAST, APCC, CHRW, PTEN, GNTX, HSIC, RYAAY. Deletions - ABGX, ADRX, AMCC, ATML, CHTR, CNXT, CYTC, IDTI, IMCL, ITWO, PDLI, PMCS, RATL, SEPR, VTSS. This essentially removed the weak sisters from the Nasdaq 100 making it more difficult for the index to fall any lower than 30. Next I have to make a point that does not necessarily suggest an uninterrupted rise for the SOX or market from here based on the chart pattern. The current rally is still intact but I think we need a lot more volume to take out the highs set last Friday. That's going to be tough in my opinion so we could end up slowly rolling over again. Remember we never took out the January highs for a lot of important indices. I think it's possible that we have begun to form another head and shoulders formation for a number of indices. The left shoulder is probably in which means a fall could come before a stronger rally takes us back higher to form a head or top. The SOX is a good example: stockcharts.com[h,a]daclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iub14!la12,26,9!lg!li10,10!lh5,5!lp14,3,3!ll14] See the previous left shoulder back in November and the right shoulder in January that topped at 348. A fall back from here to around 285 would not be surprising in my opinion. This still leaves the October bottom intact and allows the market to rally even higher on the next run. Of course if we take out the January highs in short order then we could have a new bull market in the works. RtS