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

To: Return to Sender who wrote (54068)	10/4/2011 6:31:38 PM
From: Jacob Snyder	1 Recommendation Read Replies (1) \| Respond to of 95530

<today's action does not in any way make me believe we actually formed a long term bottom today.> I agree. No direction, no decision yet on whether SPX 1100 and SOX 330 will be support or resistance. Today's action was neither bullish nor bearish. Compared to yesterday, SPX and SOX both set lower lows, which is bearish. However, both ended up for the day, and above critical support levels, which is bullish. VIX hit a higher high (bearish), but didn't take out the August high (bullish), and closed lower (bullish). I did nothing, just watched and waited, in between walking the dog and putting mulch around my newly-planted lilacs in preparation for winter.

To: Return to Sender who wrote (54068)	10/4/2011 6:35:19 PM
From: Kirk ©	Respond to of 95530

I agree with much of what you say but .... with a prediction made some time ago by ECRI for more frequent recessions due to a lower growth trajectory, my belief is that is a big part of what has kept companies from hiring so they won't have the big write-offs of past downturns since they didn't staff up.... Two of my largest positions look like they bottomed in Aug 8 and they are staffed to do just fine. I might have bought UTEK today with a net at the dashed green support line I drew last month for this chart. I bought another that hit a much stronger support line and it is up 10% already so it is not like I missed out. My last transaction for UTEK was to sell some at 31.50 Note the rally bounced off my thin dashed green support line and seems near the oval.... if it is a dead cat bounce, I'd expect UTEK to find resistance at that oval and go lower. Usually the market doesn't bottom with UTEK above $15... so you can guess what ocean I have my UTEK nets set. BTW, that oval is not a strong resistance or support feature... just something I noticed that was cool. KLIC might be at the same support line...