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Technology Stocks : Applied Micro Circuits Corp (AMCC)
AMCC 8.4500.0%Feb 3 4:00 PM EST
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To: assetlogic who wrote (1522)5/26/2001 3:14:24 PM
From: techanalyst1  Read Replies (1) of 1805
 
I doubt he's subject to ATM. It's a MINIMUM tax. I also doubt he plans on holding for a lonnnnnnnnnnnnnng time given he has so many options and his past behavior.... but he coulda done a same day sale.

What I think as far as the stock goes: It will bottom before the fundamentals are the worst (or before the company sees improvement) because the market looks forward at least 3 months and likely 6+ months. However, amcc is not cheap and that's preventing it from rising more. Hence, when it falls, buyers step in and traders (recent buyers or those wanting out) sell on rallies which sets up a trading range or base for the stock. The longer it bases, the stronger it is.

How long it bases is anyone's guess. Could be a year or more (flat base or slightly rising) or it could stairstep lower if the fundamentals get worse. For now it doesn't look like it wants to go lower, pretty much the same thing can be said of most of the FO/IC chip sector. Not really going up, but not really going lower either.... Buy a few shares on the dips (if there is low volume) and sell calls on a rally. Use the money to buy more shares on the dip and sell calls on a rally. Look out a few years and we'll be fine.

TA
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