Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 268.78

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3:32 PM EST

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To: Ian@SI who wrote (19014)	4/26/1998 7:44:00 AM
From: Justa Werkenstiff	Read Replies (1) of 70976

FWIW, if there were three things I would concentrate on in this market they would be: (1) overvaluation with the S&P trading at an all time high on a trailing earnings basis and (2) the percentage of bulls/(bulls+bears) as measured by Investors Intelligence readings is around 70% and has been there for a few weeks. If you look at this historical contrary sentiment indicator, nothing good happens after it reaches 75% for over a ten week moving average. And (3) Greenspan has benched himself for the moment but may want to play later in the year after the elections if the economy is not cool enough for him. So I am reducing some margined positions (even some semi equips) I have had since Dow 7500 into strength here. Does that make me a bear? Nope. Just a prudent investor I hope. It is time for the bears on this thread to step up to the plate to do the extreme bull chips-to-the-sky post. Of course that post should end with something like "GOOOOO..... AMAT!" or "AMAT KICKS SEMI BUTT!" All in good fun.

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