KLIC has completed the right shoulder of a head and shoulders double top. "Double bottom" for some :-). Of all three stocks KLIC technically is in the worst shape.
TER today tried hard to hold its support levels today couldn't do it. TER broke ranks today. I sold a few days ago figuring it would. I am glad to see I was correct here.
AMAT is technically still alive. It is technically still in a bullish trend. This was the last of the three stocks in the group to go out of my portfolio. It was hard to let it go but experience and a hunch tells me it is going to join the others.
B to B came out positive and the group went down. Do we call this a contrary indicator? Lehman came out with an upgrade on TER. The stock still went down. Analysts are saying that chip companies are doing great but the stocks are still suffering. Why?
"KEEP THE FAITH" comrades. It won't make you money but it may make you feel better.
I really didn't intend for people to get the message that faith was mumbo jumbo. I never said that. My point was, and I was being sarcastic, most people dismiss technical analysis as "mumbo jumbo" when the analysis doesn't square with what they want to hear. I haven't heard that on the board yet but expect to hear it soon. That's ok if that is what people think, I just think it is funny.
Faith is something you have or don't have in God. It makes a poor investment tool in my opinion. A hunch in and of itself is a poor investment tool also. I agree. It was said light heartedly and wasn't meant to be taken too seriously.
Finally, I posted my analysis on the board for all to see. That was the important part of my message that was utterly missed by some. Agree or disagree on facts that is all I ask.
I'm looking at the charts and you're right: Klic has some disturbing technicals. Faith is indeed a bad way to invest.
But I'm also impressed how your blinders - call it 'negative faith'- are probably just as bad, if not worse, than those you criticize. For god's sake man, for the umpteenth time on this thread, look at the five year chart and look at early 1997: http://quote.yahoo.com/q?s=KLIC&d=5y THERE IS NO BETTER EXAMPLE OF A DOUBLE TOP THAN THAT!!
But that doesn't count. Things are 'different' now. Faith and Soviets are ruling here and have undermined 'the real story', epitomized by your opinions.
I'm sure geniuses like yourself would have sold on the 'right shoulder' of THAT 'technical' deterioration.
And you would have advertised your lucid insight at that crossroads as well...so we all could be just like you AND LOSE OUT ON FULLY HALF OF KLIC'S RUNUP IN 1997.
Gee, guy, it's morons like you, without an iota of historical perspective, who always lower the playing field.