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

To: Return to Sender who wrote (10119)	6/13/2003 10:05:28 PM
From: The Ox	Respond to of 95525

The bear has a few tricks left up it's sleeve. I agree that there will be better opportunities to go long in the intermediate future (3-6 mos). However, right now the market is looking for reasons to take profits. How long this will last is anyone's guess? Long side profits have been hard to come by the last few years and it's only natural that we will continue to see heavy resistance each time we sustain a solid move up (like this last one). Back and fills are to be expected but until we see major technical breakdowns I am keeping my bullish bias in place. (I am not blindly bullish, as I have tried to stress in prior posts!) A correction down into the 330 area is still very possible. A move back toward the trend line should be expected after bullish runs pull the index (too far) above the trend channel. At least that's the way I see it...

To: Return to Sender who wrote (10119)	6/13/2003 11:56:34 PM
From: Donald Wennerstrom	Read Replies (3) \| Respond to of 95525

I think you are right - October sounds like a good time to go long. Let everyone get back from their summer vacations and get through the bad news for fall earnings season. Maybe the economy will also look better for the near future at that point. The next few weeks should be key in either confirming or debunking that scenario. I could be wrong obviously, but I think more analyst downgrades for the semi and semi equip companies are in the offing. If that is true, not much will probably happen over the summer months except for downward drifting stock prices. I didn't put it in a table, but during this past week, First Call reported three stocks out of the Group had reductions in long term growth - there were no upward revisions. The 3 stocks were ASML, 16 to 14 percent, PHTN, 26 to 23 percent, and PLAB, 21 to 17 percent. Don