Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 249.89

+3.1%

Nov 26 3:59 PM EST

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To: Gary Burton who wrote (21099)	7/4/1998 5:55:00 PM
From: Big Bucks	Read Replies (1) of 70976

Gary, Thanks for the description/analysis. It appears that we have just topped the 3rd crest and will head down from there for a short while, IMO. Re:I use Elliott Wave ---the pattern that AMAT is tracing out from the top looks very much like a DOUBLE zigzag. Surfers get ready to start paddling (as we drop below $26) to gain momentum for the next small wave in August/Sept then get ready to dismount prior to Oct. Seems like another major correction may occur as it did last year, and in '96, and '87. I'm expecting a small correction in July based on earnings and future projections, then another rally in August/Sept as investors/funds see bargains available. This will lead to overvaluations in many large cap stocks due to speculation,and momentum then an ugly Oct/Nov correction. Just my opinion, BB

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