Re: [CANSLIM] M

From: "Pritish Shah" <pshah@lason.com>
Subject: Re: [CANSLIM] M
Date: Fri, 13 Jun 2003 13:32:14 -0400

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Semiconductor Index

>>> jeffwdc@yahoo.com 06/13/03 01:24PM >>>
Hi Ian,
Can you tell me what SOX is?  I'm guessing it is an
index, but not sure which one.  Thanks, jg

- --- Ian <ianstm@shaw.ca> wrote:
> Hi all:
>=20
> Just an observation on M:
>=20
> If you look at a 6-month chart of the SOX, you'll
> see that the SOX bottomed
> in February at 260, and over the next month,
> stubbornly refused to go below
> 280. Simultaneously, the rest of the indices were
> still dropping, putting in
> a bottom on March 12. The SOX was leading the market
> - which it did as the
> indices charged higher over the last 3 months.
>  When the SOX hit 410 last Friday, it was up almost
> 60% over its February
> 260 low!
>=20
> But since last Friday, when the SOX put in what
> might be a blowoff top, the
> SOX has been exceptionally weak, dropping to the 362
> area right now (giving
> up almost exactly 1/3 of its gain), and getting very
> little of the general
> market bounce that we saw in the middle of this
> week.
>=20
> In my view, this is a serious warning sign for M
> here, and warrants close
> watch, as the SOX approaches its 50-day in the low
> 350 area.
>=20
>=20
> Cheers,
>=20
> Ian
>=20
>=20
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