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

To: BWAC who wrote (11135)	8/22/2003 3:42:07 PM
From: Return to Sender	Respond to of 95639

From Briefing.com: SMH Semiconductor HOLDRs exhausted? (36.70 +1.15) -- Technical -- Sector posted big gains again today bringing the rebound off the August low to roughly 25%. While still holding on to a solid percentage gain, the sector has been drifting steadily lower since 10 am. While proof/technical confirmation is still needed, the action today raises the possibility that the recent run is exhausted. The linked chart shows gaps formed over the last several months. Breakaway gaps argue for follow through as they occur on a move out of a consolidation. Exhaustion gaps occur at the end of extended moves but may merely led to a period of consolidation. Also of interest is the potential bear divergence in the daily stochastic and the very low choppiness reading (lowest since Sep 2001). The latter, which measures the ratio of the average price range, has a tendency to form near at least short term reversal points.

To: BWAC who wrote (11135)	8/22/2003 6:06:47 PM
From: Donald Wennerstrom	Read Replies (1) \| Respond to of 95639

That's true - not even the mighty INTC could "save" the market today, but just think what would have happened if they didn't speak up when they did. We would have had a big sell-off today without INTC speaking up when they did and look what "they" managed to accomplish. It now gives the newspaper and TV the opportunity to say that this was a "mild retrenchment" and GOOD for the market after such a fast rise the last few days. We are simply "consolidating" and giving the market a well earned rest. I could go on and on - but you get the picture!:) Monday, the market should be off and running again. If not, another "silver bullet" will be brought in from somewhere to assure us how "good it is" out there in market land. If you don't jump in now, we are going to miss out!:) Don