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Technology Stocks : Full Disclosure Trading
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To: advocatedevil who wrote (2448)11/4/2002 4:13:08 PM
From: Jacob Snyder  Read Replies (1) of 13403
 
OT AMAT:

For a while now, I've thought that AMAT at 20 is a short-and-hold. That would be a near-double off the recent lows. Since 20 was strong support on the way down, it ought to be strong resistance on the way up. For the last month, the stock (and market) has been in a sharply uptrending channel. For AMAT, the top of that channel is at 17, and the channel is about 1-1.5 wide. So, I may begin shorting AMAT tomorrow at 17, covering on 0.5-1 point declines. AMAT seems to have a daily volatility of about 0.60 You were fighting the trend (again) today, and (again) came out ahead.
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