Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 223.95

+1.7%

Nov 21 9:30 AM EST

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To: Big Bucks who wrote (19590)	5/21/1998 12:11:00 AM
From: Paul V.	Read Replies (1) of 70976

Big Bucks, >Any TA folks notice the head and shoulders formation of AMAT over the last month. Does this indicate a major reversal pending??< According to DW's book, page 30, the profitability probability for a triple top which we had is 80.13%, with an average gain of $28.7 in 6.8 months. Based on the low of $32 in March '98 plus $28.70 gives us $60.70. Our triple top is $39. $40 will break it. Including Tito's info that AMAT many times runs up on the forth try we may be getting ready for a movement up after a shakeout period. We will just have to wait and see especially since the FED did not take action to raise rates today. Just my $.02. Paul V.

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