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

To: Gottfried who wrote (13713)	3/4/2004 10:58:12 AM
From: The Ox	Respond to of 95390

I don't think the market is expecting a big selloff, it's just that I am expecting it. There is a major effort to keep the S+P below the 1160 level, which is an important fibonacci level. A break above this point would probably launch the S+P 500 up with pretty clear sailing until the mid 1250s and only some minor resistance in the 1177-1180 range on the chart, as I see it. I would just prefer that the market take this point out now, continue the upward run (to it's conclusion) and then we could be set for a very solid, large correction (percentage wise). This could very nicely coordinate with the April earnings period and would be the "perfect" sell on news time to take the market down at a point when most would be very bullish due to the strong earnings releases that will be delivered. With the analysts trying to talk down the market since late January, I think we appear to be holding up the inevitable conclusion of the bull rebound from the March '03 low. I know I'm in the minority with this view point but that's how I see it.