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Politics : Formerly About Applied Materials
AMAT 259.65+2.5%9:42 AM EST
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To: Rick Storm who wrote (49656)7/24/2001 8:52:23 AM
From: robert b furman  Read Replies (2) of 70976
 
Hi Rick,

In today's Investor's Business Daily" within "The Big Picture" section second to the last paragraph :

{No wonder individual investors are getting worn out.Three months of grinding trading has left only 40 %of Americans expressing optimism about the stock market,according to a Gallup and UBS Paine Webber poll.It's the lowest level since the index was established in 1996.

Of course the market is the master of reverse psychology.When the crowd can't stand stocks,its usually a good time to buy.}.

What did Ted Warren used to say about consolidations(which is what I think we are in):

"Consolidations give the tape watcher and others impressions of weakness.This very dullness and weak appearance indicates to an investolator that there is a great buildup of underlying strength.If an investolator should ever become excited,it is when he sees actions of this type."

I continue to believe we are in a slow grinding consolidation.If you doubt it, look at the institutional buying that jumped on Nvls when it gapped down ( to 43.90) last week at the open(hint it was on it 200 day moving average).This slow grinding is stealth like, so accumulation can occur at the lowest possible price.Institutions are very quietly buying up great companies at bargain basement prices.

It is boring and dull.

It is also the very best of value on the most dynamic growth companies who WILL RISE TO GROW AGAIN - it just might be 6 months and at a slower rate than before.

It is time to:( get excited and buy as aggressively as one can afford). JMHO

Bob
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