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To: Shack who wrote (135502)	8/11/2006 5:45:49 PM
From: Henry J Costanzo	Read Replies (1) \| Respond to of 209892

KLAC has the largest influence of any stock in the SOX...1 1/2 times more punch than the next most influential, which is LLTC. It is the 8th weightiest stock in the SMH...Sooo what happens in KLAC counts. Just looking at chart now, Shack, agree bearish take ...but also struck me there may be an H&S top lurking in there. Need to look more carefully...may try posting a chart later....One question would be whether there would be any "return to neckline" that should be looked for in that picture. Just so happens that when your post showed up I was fiddling with ratio charts...SOX/NDX and NDX/COMPX.. Clear, of course,that both SOX and NDX weak sisters..SOX dragging down NDX, and NDX dragging down COMPX...but I see nothing in those charts to indicate any change soon.

To: Shack who wrote (135502)	8/11/2006 5:56:50 PM
From: Galirayo	Read Replies (1) \| Respond to of 209892

ADI isn't helping either. It had one of those Cat Attacks today. stockcharts.com

To: Shack who wrote (135502)	8/11/2006 6:18:01 PM
From: Perspective	Respond to of 209892

That would be sweet, since KLAC is my biggest semi-equipment short position. BC

To: Shack who wrote (135502)	8/11/2006 6:25:13 PM
From: Henry J Costanzo	Read Replies (1) \| Respond to of 209892

Back to you on KLAC...A little tricky, but nclined to think that does have an H&S top....with downsloping neckline at the Jan and Apr lows.... Anither, maybe far-fetched possibility, might be a larger, double-headed H&S with neckline through Oct and Apr lows. The practical consideration here would revolve around the "return to neckline' possibility.. In the first case. would look like that faux breakout took care of the return to neckline. In the second case, the "return" would involve risk of quite a few points up from here..(of course, "return" not absolutely necessary, but does occur frequently). Maybe all this too abstruse, Shack...Take a look at the daily, and see what you think.. BTW Action May to date on the daily looks like a broadening descending triangle.....usually bearish. Takes me a while to annotate charts, but will try to put something up if not tonight, then over the weekend....Staay tuned....LOL