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

To: advocatedevil who wrote (48584)	6/30/2001 10:05:40 AM
From: michael97123	Read Replies (1) \| Respond to of 70976

AD, Heard this morning that many funds had to price at 4pm for end of quarter purposes. For example amat was close to 52 at that point. When naz trading continued many of these folks sold at the high prices for profits which turn up in the third quarter. Explains a bit of the chaos. My belief is that the notable prices on friday were at the highs for the day, eg amat near 53. I believe, with earnings warnings now behind us for a couple of weeks and folks focusing on the long awaited recovery, prices in tech will move back to the upper end of the trading range(2300 nas, 58-60 amat). Beyond that it depends on how convincing recovery argument appears. For instance will there be more news about gas price decline, tax rebate causing retail flurry, better employment number, better consumer figures etc and will companies start meeting or exceeding estimates? If that occurs we can go higher, if not back to the 1950-2000 area with the possiblility of more downside as warnings season comes again. My belief is that the Fed will win and moderately better economy at the start will become more and more evident to skeptics as "visibility" returns. MIke PS Congrats on that trade. Are you the wcom employee that made it all possible?