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

To: Return to Sender who wrote (13478)	2/23/2004 12:53:58 AM
From: Donald Wennerstrom	Respond to of 95657

<<Regardless of what chart format is being used look for another penetration of the lower Bollinger Band for the SOX/SMH. When that happens do not buy. Instead wait for the RSI of the index to approach previous lows. On my chart the last low was an RSI of 37.4:>> As your chart points out, it happened very nicely that way before - what is it they say, the third time is the charm. Certainly it could happen that way again. In both of those cases, the curve dropped will below the 50 day moving average and then recovered. At the moment, the curve is also below the 50 day moving average, but not as far as the last 2 times. Maybe history will repeat itself again. <<It's no accident that the SOX and NASDAQ cannot breakout in the absence of a high put to call ratio:>> We may not have a "breakout" for some time - maybe a trending sideways market only for some period of time going forward. <<In addition CEO's may have good intentions when stating they expect their sales to expand for as many as 10 quarters. I however find this more laughable than laudable.>> I go along with you there - to predict 10 quarters into the future is a little much for me to take seriously, however, we have only had 1 quarter of a genuine Bookings increase - I can't believe this cycle is "all over" and the peak of Bookings is reached by July of this year. <<I fear that the handoff has already begun from institutions to retail investors.>> No question that is true, but that doesn't necessarily mean they are right. Don