Hot Equipment
As tech pulls back after an initial bout of euphoria from
Greenspan’s tech-positive comments, it is instructive to note which stocks are
holding up from the best performing industry groups of the year. The semiconductor
equipment group is among the top ten best performing groups, year-to
date, having risen 21% since the beginning of the year. Let’s look at two stocks
from the group that are demonstrating good relative strength vs. the market, as they hold up as tech plunges.
Du Pont Photo Masks
(
DPMI |
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PowerRating) has made steady gains
since Jan. 1, rising as much as 60%. DPMI is in a Pullback From Highs pattern,
has set higher highs for the past four days, and is riding its 20-day line in
tracing the handle of a cup and handle. DPMI is up 1 23/32 to 77 3/4.
Brooks Automation
(
BRKS |
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PowerRating) is one of today’s other
leading performers from the semi equipments, up 2 3/16 to 37 7/16. BRKS’s
gap-open action today follows yesterday’s expansion bar and comes on volume that
is twice the daily average. This stock is still below the four-month high and
four-month base, meaning that today’s gap could be the first signal of a
breakaway.