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: Donald Wennerstrom who wrote (10532)	7/10/2003 12:30:36 PM
From: Return to Sender	Read Replies (1) \| Respond to of 95503

I think Briefing.com is correct. At this time today the market looks like to me that it will show a trend change to down for most sectors by the close today. The put to call ratio and TRIN scores are both still high enough that the market could reverse course back up higher as early as tomorrow morning but the bottom line is simple. Earnings and outlooks are unlikely to satisfy investors expectations with the market at these lofty valuation levels. I believe that for the market to move much higher that there must be more assurance that there will be a business led economic recovery the second half of this year. Where in any of the economic numbers that have come out so far is there evidence that a business led economic recovery is an assured event later this year? Answer: There is no assurance in the economic data. Oh sure the market looks ahead but it is wrong just as often as it is right. Common sense should be dictating caution here for investors. There is simply too much bullishness at a time when expectations for a healthy recovery are already largely factored in. This is of course just my humble opinion. As for Briefing.com it was just a few closes ago that they reiterated that they felt equities were still the best place to make money. I agree but for goodness sakes don't chase the rallies. Don't buy long on just the first day of a pullback. This market may actually be in a rising trading range but why would anyone want to buy stocks anywhere except at the bottom of that range? I think there is a good chance the SOX is headed back to 355 or so based on my read of this chart: 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] Time will tell Don. Could go higher or lower depending on those reports and outlooks. RtS