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

To: Return to Sender who wrote (14415)	4/12/2004 1:09:53 PM
From: The Ox	Read Replies (1) \| Respond to of 95823

Hi RtS (and all...), The forward looking concerns you voiced are valid but let me add a point of reference. During the extended downturn, the SCE companies have tightened their fiscal belts and they have been very cautious with their spending. This should give support to the relatively modest outlooks which make up the PEG multipliers. As long as the rebound continues on the slow but steady track and extends farther out then many are currently expecting (into 2006), then the PEGs for our group are very bullish as Don has pointed out. These issues are not disconnected from the market but they do imply some "life of their own", separate from the over market trends. It is very possible for the market to go sideways, while the SCEs inch their way up. Obviously, if the market moves higher, combined with good outlooks from the SCE companies, that could give us the best of both worlds in the short haul. mh

To: Return to Sender who wrote (14415)	4/12/2004 1:49:57 PM
From: robert b furman	Read Replies (2) \| Respond to of 95823

Hi RtS, I think a long term evolution that dissolve the transports impact is the rise in price and shortage of oil supply as economies recover. High energy prices are a given when demand rises (as in recovery). High energy directly impacts the profitability of the transport sector more directly than many. This imbalance over time is skewed more than other commodity prices because it is artificially controlled by a Cartel. I think this has been George Bush's greatest contribution to Global growth.His strong leadership has created a safer environment for drilling and discovery in Iraq,The old Russian Stan countries as well as many Northwestern African countries. To the degree these new growth spots create honest competition we'll be able to have a better unbridled global recovery. It is not popular to some - but we as Amerivcans need to get our head out of butts and develope our oil sand resources and Alaskan Oil resources. The greenies are against it, and I'll bet half of them don't even know what the Alyeska pipeline looks like or where it is located. Bob