The RF to Light 100 rose 1.4% last week, YTD +15% at 2492 - close to the record high of 2502 in May 06. At that time the average P/E ratio stood at 78, now at 29. Total 3Q financials of 50 corporations: Revenues up, free cash flow up, total cash up - see attached charts in tab "market timing". LSI is acquiring Agere. Anaren's stock dropped 11% after announcing inventory evaluation error. Cree cuts revenue forecast - 9% down.
PIS (personal investment system): Zhone joined the 5 year low group (within 30%)which also includes EDO (up 9%). Adtran joined the 2 year low group while ADC Telecom, Flextronics, Nortel and Qualcomm moved higher and out of their 2 year low range (within 10%). Stock symbols are colored green (5 year) and blue (2 year).
In the News: Employers added 132,000 more, supporting the Federal Reserve's assessment of future steady moderate growth. The ISM's PMI for the non-manufacturing sector surged last month. And the smoothed growth rate increased from 1.5 to 1.8% last week, steady climbing from its September 06 low of -1%. Expectations for US rate cut are scaled back. Crude oil and gold prices declined. The dollor strengthend.
New Highs: AEIS, AGR, ANAD, CMCSA, COL, CSCO, IBM, IFX, LMT, RTN
New Lows: CREE
Market oversold indicator: down to 72%
Market overbought indicator: up to 56%
Top 5:
Week: Mindspeed (13%), Agere (12%), Comtech (11%), Qualcom (11%), Edo (9%)
YTD : Broadwing (161%), Avici (101%), Amkor (84%), Sirenza (84%), Atheros (76%)
Bottom 5:
Week: Vitesse (-12%), LSI (-11%), HEI (-11%), Anaren (-11%), Cree (-9%)
YTD : HEI (-61%), Powerwave (-49%), Vitesse (-48%), Zhone (-41%), ADC (-36%)
by Sectors:
Space & Defense : +2%, YTD +21%
Communic. Services: +2%, YTD +36%
Network Systems : +2%, YTD - 4%
RF Semiconductors : 0%, YTD + 8%
RF Components : +1%, YTD +17%
F/O Components : +1%, YTD +18%
Miscell. : +1%, YTD +14%
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RF to Light 100 : +1%, YTD +15%