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

To: The Ox who wrote (12458)	11/10/2003 4:23:02 PM
From: Kirk ©	Respond to of 95525

Perhaps it is folks doing what I've done... I took profits in my chippers UTEK, AMAT, LRCX friday and today early when still up... the stocks were up huge and up against some resistance levels. Why not take some off in case the market corrects? Then we have funds to buy them back. If they keep going higher, then the remaining shares do well. I figure if I was doing it then others were probably doing the same. I even took a bit of profits in CACS last week... This might be why we've had so many sideways corrections this year? I've taken profits at several levels on the way up but buy and hold would have been the ideal strategy. I have made a tad back by rotating a few of the dollars to other areas that correct more and were not so strong so I got better prices... so not all was lost. The upgrade of Intel today by the company that downgraded it at the bottom was a key for me to sell another batch early this AM. (sold some AMAT at $24.98)

To: The Ox who wrote (12458)	11/10/2003 4:40:16 PM
From: Return to Sender	Read Replies (1) \| Respond to of 95525

>Is this a head fake or the start of a serious correction?< I don't think it is either. We will probably end up testing the longer term moving averages on the SOX in conjunction with its lower Bollinger Band sometime in the next few weeks before resuming an upward bias. It would be foolish to think otherwise and I'm short AMAT. I'm just saying that I would not go long too early since I think we can have more selling without hurting the uptrend. Also the uptrend has been so persistant that I would not jump in strongly on the short side either. Too much risk there for sure. Market volume was not all that high today. This is not the kind of selling that signals the end of an uptrend. Not yet anyway. RtS