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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (3714)	3/22/2001 4:50:11 AM
From: Jacob Snyder	Read Replies (2) \| Respond to of 52237

Well, we've had an extensive discussion of this on the AMAT thread, which is one of the few SI threads that are polite to both bulls and bears. My current stance is to simply trade the range of 40-50. I shorted at 49, and have a limit order in place, to cover at 40. In the past, I've gone long at 40, and sold at 50, but I'm getting nervous about doing that any more. Yes, the chart looks real solid, a bottoming formation, bouncing at 40 over and over. Every day for the last 3 months, AMAT stays in its horizontal range, but 3 to 5 more semis (and semi-equips and companies that make boxes with lots of chip in them) warn. I'm beginning to think the semi-equips are in denial(the stocks, not the company CEOs, who freely say the future looks opaque, and what little they can see looks bad). If bookings continue down until 3Q01 (which looks likely), then I don't see how AMAT can hold above 40. I intend on buying LEAPs (calls, that is) in AMAT, but only at 35 and below.