Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 268.79

+4.6%

Jan 2 3:59 PM EST

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To: Cary Salsberg who wrote (35333)	5/23/2000 6:13:00 PM
From: Philip W. Dunton, Jr	of 70976

Cary, By most technical measures, especially breadth, the general market topped out in April of 1998. We have been in a stealth bear market since that time. Tech was just late in jumping on the bandwagon. To say that we are only two months into a bear market is just not true. While the tech bear phase has been vicious in damage, with many stocks losing 50 to 90% in value, it may not be long lasting. I would suspect we are much closer to an end of the fed tightening than the beginning. Look at the charts on the bank stocks and they will support my contention. Remember, this is an election year and while it is prudent to be cautious right now, it might be a mistake to get too bearish. Just my opinion, Phil (I am 50% in cash)

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