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

To: advocatedevil who wrote (60774)	2/20/2002 1:12:26 PM
From: Jacob Snyder	Read Replies (1) \| Respond to of 70976

ST trading: 43 looks like an important support level for AMAT. That's where both the 50 and 200DMA are, and the bottom of the rising channel. Compared to most other sectors, the semi-equips are holding up very well (=relative strength), indicating the stocks will run, once the market turns. However, I'm spacing out my buy orders, in the 43-40 area, as there are a number of stocks that are at or near where I am adding to them, and I want to conserve cash, to use for purchases that may be longer-term. Nas has now given back half it's gains off the Fall 2001 bottom. Medium-term (next 3-9 months) I'm bullish, and I think this dip is a buying opportunity. SOX looks to be in a 520-600 horizontal channel, and we're at the bottom of that channel now.