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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (20773)	7/17/2001 7:06:13 PM
From: Cindy Cannon	Read Replies (1) \| Respond to of 30051

Zeev, Intel (INTC) 29.90 +0.77: -- Update -- On call, mgmt says company has spent nearly $5 bln of its full year cap-ex budget of $7.5 bln. Briefing.com sees this as good and bad. Good: We'll probably stop hearing about that number getting reduced as they have already spent two-thirds of it, so it's safe. Bad: Because they have spent so much of it already, the booking of revenue by the chip equipment companies has largely been done....stock at 29.46. Message 16089913 What do you expect as the low for AMAT between now and the end of this calendar year?

To: Zeev Hed who wrote (20773)	7/17/2001 7:40:37 PM
From: JRI	Read Replies (3) \| Respond to of 30051

Zeev- Have a dilemma for you... For the most part, I am comfortable with the down scenario after options ex (even starting earlier) here. Even heavy down. But a couple things stick in my craw. 1st- Rydex numbers are way bullish. I don't know if you follow J.T.'s Mita thread, but the Rydex numbers resemble early April.. 2nd- Weekly stochastics on both Dow and Naz are largely oversold. Dow greatly so. To get to overbought, we are looking at a minimum of 4-5 weeks burn-off...I suppose they could go have way up and turn (usually not, but let's suppose)....even then we need a couple weeks of up. Much other supporting data shows complacency, and technical breakdowns....but these 2 listed items really bug me about bear argument. Any thoughts? tia...