Jeffrey, Paul, so what does it all mean? AMAT broke 59 but is still above 57. Where do your column of "O's" say we go from here? Thanks, Jeff
When I look at the DW AMAT March/April 96/97 pattern, absolute prices, it is remarkable how close we are following the same pattern. If, we follow the same pattern then we could have only a small pullback of only a few DW “0” boxes, dollars down, from this point. However, no one knows for sure. IMO, unless, I was heavily margined at a higher price, I would ride out this downturn after reading all the PR data being posted on this site. But each person has to make his/her own decision.
The below data is from the DW site after the closing of AMAT Friday.
Symbol(AMAT), Recent Prc, ( 57.81) Sctr(Semi: Bear Correction 46+), RS Sig (Buy),
RS Col (X), Trend (+), P&F Sig (Sell), Mom ( -), Mom Wks (6), Pattern (Double Bottom
If I were a betting person, I would bet that Morgan will be giving us some good news on Wednesday at the stockholders meeting. But, this is my own opinion. Possibly, John L. and Big Bucks could give us a better analysis.
Just my $.02.
Paul |
