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

To: Jacob Snyder who wrote (52435)	9/18/2001 2:14:31 PM
From: Sam Citron	Read Replies (2) \| Respond to of 70976

Jacob, I'm afraid it may be too late to look for support at 40 anymore. Rather, in the short term we may very well see the 30 area probed IMO. I believe that the best way for most long-term investors to play AMAT is to follow Cary's basic approach of steadfast scale down buying, which has already proved itself over several years. I am also especially encouraged that Cary has demonstrated that he has also developed a sophisticated sell discipline to take advantage of the inherent cyclicality of this industry. Barton Biggs told CNBC this am that he saw no signs of capitulation yesterday. Rather it was exactly as expected and that price declines and volumes were moderate if anything in light of European action and pent-up transaction demand. He did say, however, that we may be within 5% to 10% of a bottom here. It was mentioned that his recent research note to clients suggests that the upturn will be lead by telecom and tech and that European shares may be especially attractive. FWIW, Sam