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To: rayrohn who wrote (191865)	7/1/2011 3:21:26 AM
From: 2MAR$	Respond to of 209892

SMH/semis ...Thanks for the look back , refreshes memory of doubletops n bottoms way back then ...remember "$40" very well .<vbg Looking at the topping say in 2002 and taking it in 2yr cycles to 2012 we could be seeing another top put in here , just an off hand WAG of course . Nothing wrong this last 2-3 weeks with bottom feeding select ones as these congestion lows were holding finally . Am not sure how to respond to trading regarding "Downtrend" & Trend since lately its been more of a channel lows & highs with one low just tested with some stocks in a "downtrend" have returned 10% on these latest bounces . Again a stock pickers market ..timing the trade. We know that INTC is the one with the momentum and did a pretty fib retrace from last top but held the 200ma no problemo ...NVLS was one of the only others . (remember certain pivot/prices for stocks , like KLAC hitting $37's once & NVLS falling to $22's AMAT to the 12's ...and big mistake not stepping in then and buying them when the market later took off )

To: rayrohn who wrote (191865)	7/1/2011 11:06:42 AM
From: robert b furman	Respond to of 209892

Hi Ray, If you look at SMH and INTC over the last week you'll note a very close correlation. My bet is break out for both: stockcharts.com reasonable to expect some R @ the 50 dma (which looks like it may join the 144 and 200 sma in rising.Note a very convincing +DI crossover of -DI. There is a reasonable expectation that tech and financials may well FINALLY ADD to the market's upward momentum.Not to be discussing FA here,but the XLF has gone up on what in the past would be called negative news.Up in price on otherwise negative FA is a possible market shift and worthy of noting IMHO. stockcharts.com A strong reversal by any one's view and the oscillators are just beginning to turn.Looks to me like Wall Street may well have achieved its desired load and the shorts are scurrying - creating demand for the stock and driving up price.