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Politics : Formerly About Applied Materials

AMAT 315.29

-4.0%

1:37 PM EST

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To: Gottfried who wrote (22642)	8/7/1998 7:48:00 PM
From: Paul V.	Read Replies (2) of 70976

Gottfried, Today, with us at a high of $37 3/8 we have blown past and broke the DW Bear Resistance line at $36. I expect that we will have a slight pull back and then proceed up in Tito's yoyo fashion. The Bull Support Line is at $29. However, I thought it would have pulled back at $33 and sold a few shares in my IRA. I am just glad that I bought AMAT in my Trust account at an average of $28 earlier, on margin, anticipating that I may need to buy later. Using the $26 base plus $18 (6x3) I get an projection of $44 in the not so distance future. But, once we could see a gap movement upward to the previous high of $54. After, $54 previous (post split) high we will see some resistance and then momentum comes into play with IBD's cup and handle approach as AMAT moves on up. How long this will take no one knows but I would not throw out the chance by the end of 1999. Just my opinion. BB, I do not think that we will reach the low 20's from here nor $26. But, AMAT has fooled us before. Paul V.

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