Big Bucks, Ramsey, Gottfried, Teri and others, Today's Dorsey Wright's Daily Equity and Market Analysis Report, 7/6/98 indicates that the Optionable Bullish Percentage has reversed up to 46.95%. This reversal allow with the 10week reversal, high lows reversal is positive for the market. The report also states that, "The AMEX Japan Indes (JPN) has similarly firmed up since testing its January lows. . . . "last week the JPN reversed" . . ."So the action in the JPN goes further in suggesting that the Japanese market my have found a (at least a temporary) bottom."
Further in the DW report it was stated, "The Semiconductors sector reversed up to the 22% level and into the Bull Alert status, this is a strong move and indicates we may start looking for plays in this area."
"So having found the sectors we want to initaiate positions in and combining the fundamentals listed above alon with the technicals we have culled out several interesting situation. Below are selected comments." The companies selected were: ADBE, AMAT, APCC, NVLS, IBM, INTC, SUNW, SNPS, TEK, & QNTM.
Since this DW report and feature items is circulated to a hugh number of brokerage firms I expect the brokers to place potential clients into AMAT. This may continue to hold and run up AMAT.
Just my $.02.
Paul V. |
