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

To: Jacob Snyder who wrote (60381)	2/13/2002 1:12:20 PM
From: Paul V.	Respond to of 70976

Jacob and threaders, Looking at the Dorsey Wright Chart for AMAT today, I see that when AMAT hit $46.00 it broke a double top and the bear resistance line which was at $45. According to DW the statistical probability for the profitability is 80.3%, average gain over a 11.5 months when a stock breaks a double top. However, this is for a bull market. The question, 'Are we in the beginning of a bull market or still in a bear market. I always remind myself to follow the FED, liquidity and that the trend is your friend Using DW's calculation method, horizontally, AMAT could see a price increase of $27 from the shakeout low of 39 for a high of $66. Using his vertical method we could see a price increase of $18 from the $39 gives us a price of $57. Consequently, we have a price projection range from $57-$66. within the near future, IMO. On the DW chart pattern which I downloaded DW has a price top for the immediate of $55. A concern that I have is the large number of institutions holding AMAT at this point. When will the institutions start bailing? Will they ride AMAT to its highs? This is the first time since last November that AMAT has broken the bear resistance line. Also, the way CSCO runs parallel to AMAT, I am wondering if CSCO will begin to move up as well. Just my opinions. Paul