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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (34334)	9/20/2001 11:46:46 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68364

11:04 ET Applied Materials (AMAT) 30.98 -0.14 (-0.5%): Semiconductor equipment maker to cut about 2,000 jobs, or approx. 10% of its workforce. Employees will be notified beginning today. "Unfortunately, the length and severity of the downturn and lack of near-term visibility have made it necessary for us to take additional action to align our operations with the current level of business." 11:01 ET Brocade Comms (BRCD) 19.38 +0.19 (+1%): -- Technical -- Continues to exhibit relative strength today; extended yesterday's recovery rally before slipping but the pullback has thus far been well contained. Watching intraday support at 18.90 for an indication of the health of the current bounce. Resistance is at trendline off Aug/Sep highs tested early this morning followed by 22.29 and 23.30. Failure allows for further short term declines with next supports at 18.20/18.15 with a more important support at 17.90/17.75. 10:59 ET Walt Disney (DIS) 15.70 -2.80 (-15.1%): Hearing from trading floors that there is a block of 135 mln shares of DIS for sale at $15 (approx. 7.2% of float), and that DIS is stepping in to buy 50 mln of it. Hearing several possible sellers (Buffett, Saudi Prince, Bass Brothers). Would note that Buffett stated earlier in the week that he would not be a seller of US equities in wake of terrorist attacks. 11:37 ET AGA Data : American Gas Association (AGA) reports that US natural gas inventories rose 3.4% last week.