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Strategies & Market Trends : Classic TA Workplace

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To: Perspective who wrote (47447)	7/25/2002 11:32:10 AM
From: AllansAlias	Read Replies (1) of 209892

Happy birthday Bob. Remember about 3 or 4 months ago when we talked about the structure in some of the semi's, notably KLAC and AMAT? Well, it is unfolding and it's outright scary. (For others: Take a look at the AMAT monthly to get the idea. If that first leg that ended in the fall of 2000 was an 'A', then the up/down/up into this spring's high was the 'B', then this down is the 'C' and AMAT is going way, way downtown. Of course, this read might not be correct, but it looks good and needs to be respected. We all know the market is HUGELY oversold. I am not calling for the NAZ to go to zero here. If I short it will be in small amounts and in selected stuff. Nothing goes in a straight line.)

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