The Tail That Wags The Dog
Ignore at your own risk...
Below confirms my hunch that because of creative book keeping and channel stuffing....4th qtr reports for the semis are looking rosy....1st qtr 05 due starting mid April will not look good...sending the SOX down again in mid to late April and the rest of the market with it....
follow the SOX it should start down two weeks before the rest of the market......closely followed by the financial sector, the margin squeeze will be reflected in 1st qtr 05 results....
...Spearheaded by broad-based buying in technology, the Nasdaq continues to outpace its blue chip counterparts... All 20 components in the Philadelphia Semiconductor Index (SOX +1.6%) have traded higher following an SIA report that showed global chip sales reached a record $213 bln in 2004...
While chip sales showed a sequential 3.5% decline in December, in line with historical seasonality, Dec sales were up 14.6% year over year...
Ongoing efforts to reduce excess inventories and intensified competition, however, are expected by many pundits to result in a 4-6% sequential decline in worldwide sales in the current quarter...
Below confirms my hunch that because of creative book keeping and channel stuffing....4th qtr reports for the semis are looking rosy....1st qtr 05 due starting mid April will not look good...sending the SOX down again in mid to late April and the rest of the market with it....
follow the SOX it should start down two weeks before the rest of the market......closely followed by the financial sector, the margin squeeze will be reflected in 1st qtr 05 results....
...Spearheaded by broad-based buying in technology, the Nasdaq continues to outpace its blue chip counterparts... All 20 components in the Philadelphia Semiconductor Index (SOX +1.6%) have traded higher following an SIA report that showed global chip sales reached a record $213 bln in 2004...
While chip sales showed a sequential 3.5% decline in December, in line with historical seasonality, Dec sales were up 14.6% year over year...
Ongoing efforts to reduce excess inventories and intensified competition, however, are expected by many pundits to result in a 4-6% sequential decline in worldwide sales in the current quarter...
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