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

To: BWAC who wrote (11255)	8/26/2003 10:53:20 AM
From: Return to Sender	Respond to of 95639

Briefing.com - Semiconductor Related News: 9:39AM Taiwan Semi estimates, price target raised at Prudential (TSM) 11.32 -0.13: Based on firm's proprietary checks, Prudential Equity Group is raising its Q4 est to $1.675 bln from $1.625 bln given the improving wafer starts in the month of August over the month of July and expectation of continued sequential monthly improvement in September. Firm also raising 2004 est to $0.46 from $0.44 and increasing price tgt to $14 from $13. 9:17AM Mattson receives orders valued at more than $25 million from new Taiwanese DRAM manufacturer (MTSN) 11.45: 9:24AM The Technical Take : The market extended the breakdown of late last week in the early going on Monday but the selling pressure was limited in scope. This was evident in the anemic volume totals as well as the fact that the indices bounced off short term supports fairly early in the day and edged higher in late trade to end mixed to just slightly weaker. Limited action at this time of the year is typical with lower volume action expected to persist into the upcoming holiday weekend. It is worth noting that lower volume does not necessarily mean lack of movement in the averages and according to the Stock Trader's Almanac the action over the last six years has not been encouraging during the week headed into Labor Day (Nasdaq -2%, S&P -4.3%, Dow -4.6%). While this period has included both bull and bear markets suggesting it was not merely an extension of a one way market, it is important not to blindly follow any type of pattern such as this without confirmation from the price action. We have seen some negative technical develops of late which we highlighted in more detail yesterday (key reversal Dow, non-confirmation S&P 500, potential exhaustion action in influential semi sector). However, as mentioned above the averages have been able to hold on the initial tests of short term supports and the overall sector action has been of the rotation variety (out of recent leaders cyclical, tech and into drug, tobacco and discount retailers) thus far as opposed to a broad based slide thus far. S&P 500: While this index failed to confirm the breakout during last week's run in the Dow and Nasdaq Comp, it was able to post a fractional gain yesterday. The overall posture is clearly still neutral with yesterday's early low stopping near the midpoint (987.50) of the now three month trading range. The afternoon bounce lifted the index back above its 20/50 day averages (990) which we taken out in morning trade. However, based on the pre-market action we are looking at a weaker start to the day. To view the remainder of the Technical Take see the Stock Brief. Send suggestions, comments or questions to -- Jim Schroeder, Briefing.com biz.yahoo.com CNBS! Oh that's a hoot... Thanks for my laugh of the day BWAC! RtS

To: BWAC who wrote (11255)	8/26/2003 10:54:27 AM
From: Gottfried	Read Replies (1) \| Respond to of 95639

BWAC, why not post your list of fears so we are prepared? Gottfried