Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 230.17

-1.4%

Nov 7 9:30 AM EST

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To: Jacob Snyder who wrote (22259)	7/29/1998 5:16:00 PM
From: Gary Burton	Read Replies (1) of 70976

TA fans-DJIT just took out its June Low, after failing to confirm the DJIA July high. IF the DJIA now takes out its June low of approx 8580ish, all the Dow Theory followers will jump on the Bear Mkt bus. From an EW point of view, a break of the June low by the DJIA could also be a wave 3 to the downside (wave 1 bottomed Tues am, wave 2 peaked this morning?). Jury is of course still out but there is a substantial risk now that June 20 was the high for the year on the DJIA and we in the early stages of a 20-30% drop that Biggs and many others have long been waiting for. My 2c is that this time we will get it. Max caution at the moment. This along with AMAT's CC in early Aug may be the catalyst to finally flush out the semiequips to a meaningful buying area. Food for thought.

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