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

To: Return to Sender who wrote (12890)	1/2/2004 4:01:54 PM
From: michael97123	Read Replies (1) \| Respond to of 95574

My buddy works the floor on the nyse. He said that the dow would go thru 10k much easier than naz initially went thru 2k. He said back then that 10,500 is a number traders talk about as a point where objectives were achieved and profits would be taken. He is looking at most for 10% dow correction back to 9500 or so and at least 5%. Is that what you see for the downside? I would translate that into 150 point naz correction at worse and 75 at best. Mike

To: Return to Sender who wrote (12890)	1/2/2004 4:12:53 PM
From: michael97123	Respond to of 95574

RTS. Groups rotate and just as chips went out of favor, basic industries are really whats due for a correction. Some of the laggards i own, flex, tsm, and wdc did real well today while semis continue to consolidate. If this is as real a recovery as it seems the semis will have another leg up and I would expect them to lead the naz at that time. I still believe we need some earnings first and some positive guidance going forward to launch this group. Meanwhile some of the tech underperformes will lead tech for awhile. Mike