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 11:25:00 AM
From: Charles Skeen	Read Replies (2) of 70976

I started lurking on this thread when I was considering an investment in the Reset PERQS securities that were issued recently. But the stock looks decidedly bearish to me at this point. Fundamentally, there seem to be questions about capital investment by chip companies and SE Asia companies in the light of overcapacity and difficult economic environments. Technically, I see no evidence of a head and shoulders top (or is it reversal). What I do see is a violation to the downside of the recent minor uptrend line, as well as of 50-, 100-, and 200-day moving average lines (see PCQuote's Chart Watch). Looks like the stock is moving down to support at 33, and maybe further down, to 30-31. I plan to wait for a better buying opportunity. JMO, Charlie.

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