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Politics : Formerly About Applied Materials
AMAT 313.20-4.7%1:53 PM EST
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To: Stefan who wrote (8726)10/16/1997 11:29:00 PM
From: LemurHouse   of 70976
 
Like many of the posters on this thread, I see this drop as a buying opportunity. I see it as an overreaction to little significant news. The BTB numbers aren't a problem, but folks are nervous about the 10 year October crash anniversary (note today was the 10 year anniversary of the 100 point DOW drop on the day preceeding the big crash), about the less-rosy-than-expected INTC and CMPQ numbers, low-cost computers, the US/Japan trade spat, and anything else they can find to be nervous about. Its not just AMAT or the semi-equipment sector either. Alot of tech issues took a serious beating today.

I'm not a believer in the "efficient market". At least not in short term efficiency. I think Mr. Market is certifiably manic-depressive, and that he overreacted to the down side today. That give us coldly dispassionate (gulp!) investors an opportunity, right?

Having said that, there's also no reason why Mr. Market might take it into his head to drive us all right over the cliff next week.

Anyway, I missed the AMAT move today, but I'm planning on buying more tomorrow. I'm looking for a moderate AMAT bounce next week, once we're past options day and past the October 86 boogeyman.

Cheers and Bonne Courage!
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