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Strategies & Market Trends : Asia Forum

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To: Judy who wrote (5639)	8/18/1998 8:11:00 PM
From: Zeev Hed	Read Replies (1) of 9980

Judy, no I have not reinstituted my longs, The chances of this rally petering out before it reaches 8900 (about 50% retracement) are too great IMHO, and I thus am staying on the sidelines. I think the chances of AMAT reporting an actual loss are slim, but I would not be surprised if their next quarter comes under $.10 (operations) and possibly some additional "write offs". No strong opinion on AMD, but If INTC is turned back from around here, you should expect below 15 for AMD. The critical point on the SOX is 280, IMO, and if it is not breach during this rally, I think we will go below 230 before the end of the year. Zeev

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