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Politics : Formerly About Applied Materials

AMAT 319.19

+5.7%

3:59 PM EST

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To: Tito L. Nisperos Jr. who wrote (32308)	8/27/1999 5:55:00 PM
From: Justa Werkenstiff	Read Replies (3) of 70976

Tito: Re: "... the Workers have a Good week as they move upwards to reclaim lost grounds. Next week should be good again and it seems my 8 to 12 days at 76 is not bad at all." But what if the employment report is negative? Woops .... down to the bottom of the staircase again. The staircase only works when the Fed. is out of the market and there is a good and immediate outlook for bookings. Otherwise, the staircase becomes greased. Look at the ML upgrade today. The stock sunk like a stone out of the box before Greenspan spoke word one. When has an upgrade have that reaction? Upgrades used to be good for a spike at the open and a definite three or four points at the end of the day. We had to struggle today for over a point. Wow ... some upgrade Markie !! And NVLS, which was part of the upgrade, was up an 1/8th. KLAC, also part of the upgrade, was down for the day. ASML matched AMAT on a percentage basis. CYMI was the only one that did well and I doubt the catalyst was the upgrade. You have clear winners and losers in this sector currently. Winners are with the strong bookings trend and momentum. Losers are the ones that have the opposite for now. The good news is that the big boys have not left the sector all together so they think there is some punch left. There is selective buying and great trading opportunities. The bad news is that the sector is choppy at best and will not change unless the market can find a catalyst. The market has not found one yet. This cannot be denied. We all see catalysts but the market does not and that is all that counts.

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