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

To: Return to Sender who wrote (10052)	6/10/2003 2:35:30 PM
From: Pink Minion	Read Replies (1) \| Respond to of 95572

I think the danger in that scenario is that we are forming another head and shoulders formation. But is it a left shoulder or the head? So you guys are bearish here?

To: Return to Sender who wrote (10052)	6/10/2003 2:42:49 PM
From: The Ox	Respond to of 95572

No, I wasn't suggesting that the SOX will fall to 340. I was saying: I wouldn't worry about the bullish bias unless it falls below that point. I would need to look at an extended 60 minute sox chart for a better short term call (which is not my forte, btw). A quick look at the 15 minute chart suggests that the 369-370 would be a place to watch. A break below that might imply a drop to the 340-345 area. That's where I would be very concerned about a break below support. The bouncing around here should be very healthy for another run up and I wouldn't get too worried about the 369-370 level. The market and the SOX had a great run and one should expect a breather after the strong move we just had.