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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Shoibal Datta who wrote (43983)	3/19/2001 7:24:27 PM
From: advocatedevil	Read Replies (1) \| Respond to of 70976

Shoibal, It has been interesting to me (almost amazing) to watch how well AMAT has held its price in the face of the continuous onslaught of bad news in the sector. Did folks really know that it was going to be this ugly when they brought AMAT down to its recent lows in December? If so, I'm impressed. In any case, I find it hard to believe that the current sector weakness is all currently priced into the stock. I wonder if the reason we're holding in the mid 40's has more to do with institutional and mutual fund tech investors who are required to hold "something" in their portfolios. If I had to make an argument for holding a long position in tech at this point in time, AMAT is one I might want to defend. Still, I obviously don't believe we can hold here much longer, and if I'm wrong, well, at least I can say I took one for the Gipper! AdvocateDevil

To: Shoibal Datta who wrote (43983)	3/19/2001 8:50:53 PM
From: Jerome	Read Replies (1) \| Respond to of 70976

Shoibal......In this semi-equipment area, covered calls pose an interesting challenge this month. I believe that we ar in for a two day rally., and then another rally on Friday. The oversold condition lends itself to a two or three day rally. The Friday phenomenon is different this time because the sell off pattern is so obvious the past six weeks that many speculators will try to take advantage of it this week. When the BTB comes out on the 20th or the 21st of this month it is likely to be below a 100. This for no good reason will on CNBC with Maria and Pisani repeating it all day long with the usual negative lead in questions just prior to a commercial. This will not help the semi's much. Everything from ALTR to XLNX will be feeling the negative pressure. My plan is to write some covered calls tomorrow and some on Friday. I have a plan for every stock and every strike in this group. Now its just a matter of playing it out. Jerome