Replies to post #2011 on QID - QLD TRENDS (fka )

[nancy2]

imho, the bounce would be rather muted, imho, given the reports from semi land so far. difficult to trade a down channel.

networkers, esp those were beaten down going into today, are doing well on jnpr coattail.

take a look at adtn.

we will get a preview of how csco may fare, when cy reports tomorrow morning and pmcs tomorrow after close.

nok tomorrow morning also give hints on names like swks pwav rfmd txn.

tonight amd qlgc sndk pxlw would clear whether intc's issues are intc specific or sector wide. if it is sector wide, then semi will truly be in trouble.

[ReturntoSender]

Larry, I simply offered an opinion and a chart. I'm not suggesting that we have to go below an RSI of 30 on the chart below to form a bottom but Les's data is already supportive of a bottom forming and it has not yet.

Worst case scenario in my humble opinion is that the SMH does go to an RSI below 30 on this chart and perhaps 31.50 before we get a decent bottom.



Hope I am wrong! Keep up the great work...

RtS