Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 223.95

+1.7%

Nov 21 9:30 AM EST

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To: Gottfried who wrote (38617)	10/24/2000 11:00:13 AM
From: mitch-c	Read Replies (2) of 70976

Message #38617 from Gottfried at Oct 24, 2000 2:05 AM Ross, >I think the stocks will be trashed tomorrow while the market waits to see if this is a seasonal slowdown< The market doesn't need a reason to thrash the stocks, as we have seen. In fact, I've begun to consider news as a contrary indicator ... good news takes things down (expectations met, no future), and bad news drives 'em up (can't get worse ...) <g> I'm only partially joking here - it seems to track. The tug-of-war is between solid LT good news and a relative perception of ST bad. As the anchor point of the relative reference shifts - with overall optimism/pessimism in the market - what was considered "bad" news looks good, and vice versa. That's a perspective shift, not a change in facts. In 1996 we begged for a BTB over 1. Now we're horrified by one less than 1.2. Fred has the right idea on this one - remember that percentages are RATIOS, not raw data. - Mitch

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