Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 230.59

+0.8%

10:06 AM EST

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To: Fortinwit who wrote (26475)	11/18/1998 8:59:00 PM
From: Justa Werkenstiff	Read Replies (1) of 70976

F: I am as fat and happy as the next long with ASYT being my largest position. ASYT had a perceived turn in fundamentals and a great AEA meeting. But the institutions control this puppy so it is volatile. TER looks to have bottomed as well with unit demand being the driver and I am fat and happy with that one as well. The institutions control that one too. But the fact remains, all the good news has been factored into this sector. I think people have discounted the "V" recovery. Upgrades did not push up AMAT today even with good sized volume. We have options expirations this week. I see the overall market as overextended. And so I am positioned for a pullback in this sector although I have been long since $24. I see no revisit to the lows either. I think anything in the low 30s is as good as it is going to get at this point unless global economic conditions deteriorate markedly. That is the key in Morgan's view. On Fox today, he said this was the "one" reason his forecast is so cautious. He thinks we have hit bottom but his big reservation is the global economy.

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