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 (48858)	7/8/2001 8:33:51 PM
From: Jerome	Read Replies (2) of 70976

A review of of a number of financial web sites have pointed out that AMAT has recently broken key support levels. AMAT is now below its 13 day and 50 day moving averages. It has been my observation that there are a large quantity of tech stocks that will report between two and ten cents in earnings this quarter. And almost all of those stocks are in the sub $20.00 range. (CSCO, ORCL, SUNW, AMD) I have lightened up on AMAT at the 54 dollar range. Its not as much fun riding this stuff down as it used to be. Its also very difficult short term trading a stock on that slippery slide to the thirties. The recovery that we were all planning on in Jan. & Feb. now seems further away than it did six months ago. Do any of the AMAT bulls really belive that the investment community will be thrilled with the BTB ratios that will be here in two weeks? The mathematics of it all favor the bears. Many tech stocks are at least 70% off their highs. AMAT's high was $94.50 on July 17th. So a 70% price reduction puts AMAT in the $28.00 range. What makes this plausible is that AMAT has no earnings. It joins the ranks of many companies that are trading on their reputations. A gorilla without earnings is just another monkey in the group. Pass the bananas.... Jerome

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