Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : LSI Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Tony Viola who wrote (15872)	10/29/1998 8:25:00 PM
From: DanZ	Respond to of 25814

Tony, I agree with your conclusion, but I would like to offer a few small corrections. The SOX set an all time high of 405.48 during the week of August 22, 1997 so it is 35.3% off its high. Also, by my calculations, the DJIA is 9.3% off its high and the Nasdaq is 13.4% off its high. The way that I calculated this is: SOX: (405.48-262.38)/405.48 * 100% = 35.3% DJIA: (9368-8495)/9368 * 100% = 9.3% Nasdaq: (2028-1757)/2028 * 100% = 13.4% The SOX has resistance between 275 and 277 and I would expect it to pull back from there at least once given the magnitude of the recent run. The Nasdaq has resistance at about 1770 which isn't much further from where it closed today. It looks like the chip stocks are entering a new bull market. Based on previous bull runs, I think it can last 12 to 18 months and exceed the previous high in the SOX. Of course it probably won't go straight up, but I think the longs are in for better times. Best of luck to everybody. Dan