Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 304.08

+2.2%

Feb 5 3:59 PM EST

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To: Math Junkie who wrote (44666)	3/28/2001 2:31:36 PM
From: Jacob Snyder	of 70976

ST trading. Actually, I think that was probably a good idea (covering your short). Look at the relative strength of AMAT, vs. other big cap techs. Lots of companies in the Nasdaq 100 are setting new 52W lows today, or are at the low end of their trading range. AMAT, by contrast, is still far above it's 52W low, and still near the top end of its trading range. If we get a month-long rally in the Nasdaq, we could see AMAT vault way above 50. If we hit 55, then all the shorts and range-traders will get nervous, and we could easily see a pop to 60. AMAT's relative strength tells me I need to look elsewhere, for short candidates. NTAP on any pop to 21 looks like a good short. EMC at 37. CSCO on any strength. I'd short the Dow stocks, except I don't really follow any of them.

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