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Politics : Formerly About Applied Materials
AMAT 268.72+1.3%Dec 3 3:59 PM EST
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To: michael97123 who wrote (63633)5/10/2002 12:41:20 PM
From: Return to Sender  Read Replies (1) of 70976
 
We may not be oversold enough even now. As of last night I had 10 semiconductor stocks showing an RSI of 20% or lower. On Monday that number was 55 out of approximately 200. The quick strong rally on Wednesday raised the relative strength of almost every larger cap issue.

In order to get back to that oversold condition we had on Tuesday we may need to fall below where we were earlier this week. A good report with strong guidance from AMAT will no doubt spark another rally but without it we go lower still in my opinion.

RtS
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