Thursday, February 02, 2006

Semi Pain

Painfull here being in Semiconductors. True to my word, this is the dip you want to buy. In fact, the whole market (Nasdaq especially) is positioned for buyers. Adding to SOX and looking for a few names to own here.

It is curious to see Oil so weak along with the overall market. A few commentators did say a while ago that there is something magical about he 70 level in Oil where the markets react negatively. So, since oil is off that level now maybe this is enough of an edge to make the equities buyable? Honestly, this isn't how I think so I don't really care about this ostensible correlation.

My views on the Equities and Oil are not feeding off each other. So, my "sell the oil, buy the market" stance is really just coincidental with the generic view of the crowd.

Cheers,
/Dmitry

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