Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 322.73

+6.1%

3:59 PM EST

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To: Duker who wrote (23321)	8/26/1998 8:14:00 AM
From: Robert Schling	Read Replies (1) of 70976

Everybody remembers the spectacular 1996/1997 recovery and doesn't want to miss the boat. On top of that, AMAT is now in the S&P 500 (don't exactly remember since when). What we have here is a tremendous tug-of-war between present reality and the expected timing and intensity of the recovery. If present conditions persist, there will be capitulation at some point. That's when 26 support could be obliterated big-time. Since I believe that there is a double-digit probability of this happening, my entry point still is 26.5 with a fairly tight stop. Actually, a bunch of smaller players are close to their "Asia crisis support levels" which have held a couple of times. I can't escape the feeling that we'll see a serious test of these supports during the next few days. Good luck to us all if they are taken out. Robert

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