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To: robert b furman who wrote (6140)6/25/2003 6:02:34 PM
From: Return to Sender  Read Replies (1) | Respond to of 13403
 
OT: I agree with you on the reaction to the FED taking any action or even simple inaction.

Sell the news!

Buy the rehash of the news.

The major averages were down today but the A/D was pretty good on both exchanges. I'm not predicting any big upward move here but I think I'll do ok with this latest AMAT long.

I would go short again at 16.25 if the opportunity presented itself unless we see a lot more volume coming back on the upswing. I think Gottfried has got it right; We may not see a significant pullback but until BPNDX is back at 40 or below there is most likely going to be a better buying opportunity.

We could go lower than that. I don't think AMAT is a great value play at 15.60 today. Or even lower where it closed but Biotech, Networking and Hardware all closed the day higher.

The SOX may have seen a short term bottom despite the selling after the FED move.

RtS