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Strategies & Market Trends : Alpha Stock Pick Charts

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To: Trader X who wrote ()	2/21/1998 2:57:00 PM
From: Trader X	Read Replies (1) of 70

<--Brief downtuurn coming for the semi/semi equip stocks--> I'm going for a down week in the semi equip sector based on the lead indicator chart, AMAT. AMAT put in a bearish engulfing pattern Friday, indicating a short-term reversal of the recent uptrend. chart2.bigcharts.com:80/chart?time=6&freq=1&uf=32&lf=... The fact that AMAT opened higher than Thursday's open, and closed lower than Thursday's intraday low is a bearish candles indicator. I'm looking for a minumum retracement (75% chance) to at least 33, and possibly (33% chance) to a low of $31. I'd view either price as a good buy opp, provided AMAT holds support at either level. This is the 10-15% pullback I've been talking about for this group. -kh

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