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

To: Jacob Snyder who wrote (53820)	9/21/2011 10:30:15 PM
From: Sam	1 Recommendation Respond to of 95561

Well, there are still more bears than bulls. Although the up week has narrowed the difference a little. Date Percent Percent Published Bullish Bearish 09/21 37.6 39.8 09/14 35.5 40.9 09/07 38.7 37.6 08/31 40.9 36.6 08/24 40.9 33.3 08/17 46.2 23.7 08/10 47.3 23.7 08/03 46.3 24.7

To: Jacob Snyder who wrote (53820)	9/21/2011 11:40:51 PM
From: Return to Sender	5 Recommendations Read Replies (2) \| Respond to of 95561

Forming a major bottom is a process. It is not something that happens overnight. Just because there is ample evidence of a tremendous amount of pessimism does not mean the market cannot go lower. For instance in 2008 bearishness hit a 5 year high of 54.4% during the last week of October. Most stocks did not bottom until March of 2009 when bearishness had fallen by more than 10% to 44%. There was still a cross over of more bears than bulls but it took nearly 5 months for the bottom to form. I am still watching volume. Why? Because it can help determine when a bottom is actually forming. Major bottoms form under low volume. I'm still looking for a 90% upside day, or two days in a row of 80% upside after the selling pressure dissipates. We are obviously past the market high. We have a lot of pessimism but volume last month was a capitulation month. It would be hard for me to believe we have already formed a bottom. But after 5 months in a row of going down with the kind of sentiment we have now we could certainly rally again after a retest of the August lows. RtS