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THIS IS NOT EXPECTED TO BE A LONG TERM
CORRECTION. We are looking for a return to
levels close to, but not necessarily reaching,
lows of the last 2 weeks, but we expect that the
next upmove will be prolonged, at least amongst
the semiconductors (we're not quite as certain
about whether the computer sector will rebound
as quickly). Thus, some of those who are already
invested in the semiconductor sector will choose
simply to remain invested. More aggressive
traders, however, would be advised to get out of
these holdings shortly in order to hold on to
recent profits, while enabling themselves to
take advantage of the expected upmove later.
Wednesday, October 18, 2000: Over
the last several weeks, the signals on stocks in
this sector have gone from very weak on the
bullish side to strong bullish signals on 15/18
stocks (about 1/3 of these being executable),
many of these coming in the last two days. The
stronger bottom we talked about last week is
nearing, and there is relatively little downside
left. Here again, it would not be a bad idea to
start easing into this industry.
Wednesday, October 11, 2000: Like
computers, the sector continues to try to put a
little more strength under the bottom it's
looking for. We don't seem to be as close to a
bottom here, though, as in the computer sector.
Tuesday, October 10, 2000: Finally
starting to get strong buys (not on the whole
sector yet). Given the sector's recent break
through long term support, there should be a bit
more downside as a new support is found.
However, though it may take a while, we're
finally looking for a strong bottom.
Monday, October 2, 2000:
Semiconductor stocks (as well as internets)
firming up for buy signals. 17 of 18 stocks in
the industry have bullish signals. No buy yet,
but semiconductors are nearing the very bottom
of their support areas. Again, those wanting to
be aggressive might buy into the semiconductor
sector now, with about a 5% (on industry or 10%
on individual stocks) stop loss, as the sector
should take off to the upside soon, but if it
drops more than another 5% or so, it's gonna
keep dropping.
· November
2000
· October
2000
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September
2000
·
August
2000
·
July
2000
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