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To: Sam Citron who wrote (8517)3/22/2004 2:38:18 PM
From: Return to Sender  Respond to of 13403
 
OT: Sector Watch: Semi Index hovering near lows-- Technical -- The Semi Index (SOX 453.79, -2%) attempted to recover following the early swoon but the bounce faltered right at its 200 day simple mov avg (462.78) with the index pushing slowly lower this afternoon (session low 453.23). For the very short term, a failure to sustain a move back above initial resistances at 455 and 457.50/458.40 and then the 200 day leaves the door open to further downside probes. Next support of note is at 448 (late Oct low) followed by 445 (38% retrace of Feb/Jan rally, 50 wk simple mov avg).



To: Sam Citron who wrote (8517)3/22/2004 4:25:12 PM
From: The Ox  Read Replies (2) | Respond to of 13403
 
OT

I am slowly coming around to your way of thinking. With the geopolitical turmoil creating a more uncomfortable investment climate, it makes sense for PEs to contract and for money flows from volatile stocks to more conservative shelters.