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To: The Ox who wrote (15282)	5/20/2004 2:50:05 PM
From: Proud_Infidel	Respond to of 95616

I know there are plenty of bulls on this thread but I just can't see a positive catalyst on the horizon. I have been thinking along these exact lines. The only thing I can possibly think of is the some sentiment numbers are so poor, a rally would not be enexpected. But at this point, I am not a believer.

To: The Ox who wrote (15282)	5/20/2004 3:01:24 PM
From: Proud_Infidel	Read Replies (2) \| Respond to of 95616

The news just keeps getting better: Earth's oil gauge on low? money.cnn.com

To: The Ox who wrote (15282)	5/20/2004 7:02:13 PM
From: Donald Wennerstrom	Read Replies (1) \| Respond to of 95616

Michael, <<I fail to see what will spark any buying interest with the exception of a major dump that will finally attract some of the sideline money into the market.>> I think the release by SEMI this evening will go a long way to get rid of the doubters. <<NORTH AMERICAN SEMICONDUCTOR EQUIPMENT INDUSTRY POSTS APRIL 2004 BOOK-TO-BILL RATIO OF 1.14 SAN JOSE, Calif., May 20, 2004 -- North American-based manufacturers of semiconductor equipment posted $1.59 billion in orders in April 2004 (three-month average basis) and a book-to-bill ratio of 1.14, according to the April 2004 Express Report published today by SEMI. A book-to-bill of 1.14 means that $114 worth of new orders were received for every $100 of product billed for the month. The three-month average of worldwide bookings in April 2004 was $1.59 billion. The bookings figure is 16 percent above the revised March 2004 level of $1.38 billion and 111 percent above the $757 million in orders posted in April 2003. The three-month average of worldwide billings in April 2004 was $1.40 billion. The billings figure is 10 percent above the revised March 2004 level of $1.27 billion and 67 percent above the April 2003 billings level of $840 million. "The strength in bookings for new semiconductor manufacturing equipment in early 2004 is consistent with both announced capital spending plans and high capacity utilization levels reported by semiconductor manufacturers," said Stanley T. Myers, president and CEO of SEMI. "The capacity utilization trends are supported both by strong semiconductor unit growth and silicon wafer shipments in the first quarter." The SEMI book-to-bill is a ratio of three-month moving averages of worldwide bookings and billings for North American-based semiconductor equipment manufacturers. Billings and bookings figures are in millions of U.S. dollars.>>