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Politics : Formerly About Applied Materials
AMAT 269.47+0.3%3:59 PM EST
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To: Big Bucks who wrote (18818)4/15/1998 3:01:00 PM
From: Paul V.  Read Replies (2) of 70976
 
Big Bucks, Kumar, and Tito, Amat, Dorsey Wright wise, reversed up today to the Bull Alert status when it reached and exceeded $37. From my calculations using DW's Vertical method of the last run down to $32 I arrive at a high projection of $54. Using the Horizontal method I arrive at a $50. However, we must remember that when we hit the $54 high that according to Tom O'neil's approach, "Cup and Handle," that momentum takes over for the big run up. At $54 the cup will have been completed with the momentum to come.

Tito, and Kumar what are your projections as to time for the AMAT movement. You appeared to be right in the last run up according to timing and Big Bucks right on the lows. I full expect to hit my projection of $68-$70 this year,'98.

I believe that the more months amat holds its own at these lows earnings that we are eating up time with the market looking to 1999 when it start getting big orders.

Is my logic correct in analysis?

PS I am completing the Bull % and will post within the hour.

Naturally, the above is only my opinion and the data which I have reviewed from the Dorsey Wright site. Readers are reminded the old saving, "caveat emptor (buyer/reader beware)."

Paul V.

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