Gottfried and Tito, With AMAT hitting a DW price of $58 today, in Tom Dorsey's language, it has established a powerkeg across of seven columns of "x" and "o." Multipling the columns (7) X 3 = $21, added to the DW $49 shakeout you get a $70 conservative projection low. The vertical count, you recall, gave us a DW count of $79. This gives a range of $70-$79, IMO, within the near future. Tom Dorsey, when I asked him which figure to use, stated, "Use the conservative figure." However, from my experience, I have found that the vertical method is most generally the most accurate.
When AMAT hits $63 it will have formed a Quad top. I expect us to hit the seventy level next week just in time to send me off to a good vacation on the West Coast.<g> Gottfried, how is your sailing going? I think about you in the Bay every time I think about traveling to the West Coast.<g>
Just my opinions.
Paul |
