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

To: Donald Wennerstrom who wrote (10792)	8/3/2003 10:18:53 AM
From: robert b furman	Read Replies (1) \| Respond to of 95480

Hi Don, Well the SOX is giving us a headfake right at the end of a good run or if we have an enduring bull run then we are nicely positioniong for a rotaion - with the SOX providing leadership. All rotations take time and many are subtle.There have been some great articles on this thread this weekend.I'm looking for a down market and hopefully the SCE will provide resistance to the general market. With rates in the bond market erupting and they certainly have done so - it is time that yesterdays leaders (homebuilders for example)roll over and allow the cyclicals to blossom into the recovering economy. The mark of a strong bull is the rotation of new leaders,as the overall market takes money out of the past leaders. So the question is - does that money stay in the market or go hide somewhere. One thing for sure - the bond bubble is not as attractive as it has been in the past.It now is a place with blood in the streets.I can't believe people don't knoe that bonds go down in price when rates go up.People wanting cash preservation at 45 year low interest rates must take the bloody nose or lock in terrible returns at poor taxation rates for however long they committed. Watch for those stock that resist the general market sell off,and once the bond market carnage subsides - they'll be your leaders. As for stocks in the SCE sector - we've either seen a great headfake or (and I'm always optimistic on this one)it may just be time for our day in the sun. If SCE stocks resist the generak market sell off - then that's where the money is going.We'll have a scary but not too damaging sideways ride. I'll have my ear to Mr Chambers announcement on Tuesday regarding Csco's earnings and future vision.Being a late announcer this quarter - he amy well shed some light as to why our favorite stocks are having this nice divergence of price with the major market indices. Thanks to all for a great collection of well written and balanced perspectives. Bob in August of 03 - still holding my SCE's purchased in October of 00 - patiently waiting for the cycle to turn and give us multibaggers.GG siliconinvestor.com All but Ter popping over the NAZ on a down friday !!??!!