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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: Paul V. who wrote (18621)	4/7/1998 11:59:00 PM
From: Paul V.	Read Replies (1) of 70976

Laker,>The AMAT Bull Support line is at $33 now therefore taking $32 to break it. If AMAT performs like it did previously when it bounce off the support line when is was at $32 then this time we will have a rebound at approx. at $33. If AMAT breaks through $33 to $32 it will have formed a DW double bottom. Breaking through the double bottom at $32 to $31 could signal going lower, statistically speaking. Naturally, no one knows. I do not think it will go beyond $32 but will consider it a tremendous buying opportunity if it does. Remember, the DW AMAT low was at $26 earlier this year.< Threaders, I, in re-examining my the DW chart see that I incorrectly posted that the AMAT Bull Support Line as noted above. However, the support line is at $34 rather than $33 and the breaking of the support line is $33 rather than $32. Today, we did see a three point reversal downward from $39 to DW $36. Remember, that only whole numbers count in the Dorsey Wright method-fractions do not. It will take reaching $35 to be four points down from the $39 point. All other statements remain the same as originally posted. Just my opinion. Paul V.

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