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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!! -- Ignore unavailable to you. Want to Upgrade?

To: Trey McAtee who wrote (3629)	6/18/1998 12:34:00 AM
From: DanZ	Respond to of 6565

I think the SOX was down for two reasons today. 1. KLIC warned before the open this morning that they expect sales in the second half of the year to be below their earlier estimates. 2. At 12:30 ET it was reported that the North American semiconductor equipment book-to-bill ratio fell to 0.80 in May. This news isn't all that surprising because semiconductor manufacturers have all the capacity they need right now. The demand for semiconductors will have to increase before manufacturers order more chip making equipment. By that time, the SOX will be much higher than it is now. The SOX is also a very volatile index and I think it's important from a chart perspective that it didn't take out yesterday's low. I'm still a SOX bull and think the semiconductor stocks have turned the corner. VLSI was the only SOX stock that was up today. I think this is partly because of the upgrade yesterday and partly because there is a feeling that it has bottomed. Dan