Industry Calls Archives: Semiconductors - July 2001
Semiconductors
Wednesday, August 1, 2001:
Overall market sell. Sell with Buy Stop.
The overall market sell is for all technology,
but our signals in this sector in particular
have been pointing towards a decline, and we
have bearish signals on all but
one of the stocks we follow in this sector.
Prices have risen about 20% since our last call
(Brief Upmove Expected - 7/11) and are sitting
at the resistance level at the top of the
trading range they have been in for the past
seven weeks. Despite more and more upgrades from
analysts covering the industry, we still believe
a downmove is likely. However, this sector does
appear to have broken out above both its 50- and
200-day moving averages. If it is able to
continue up beyond another 3-5% or so, that
would likely signal more significant upside
potential, and a buy might be in the works.
