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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Big Bucks who wrote (10205)	6/6/2004 10:31:15 PM
From: Paul V.	Respond to of 25522

Big Bucks, Gottfried, Cary and threaaders, it has been interesting reading your arguments regarding the stock market. From my review ot the Dorsey Wright charts at the close of Friday, the Semiconductor sector of the technology (semi"s, tele"s, soft, comp) and biogenetics, only the Semi's have reversed up in a column of "X's", bull alert, from 18% to 26% on the Bell Shape Curve. Normally, from the lows of the teens (6 being the lowest) the semi sector rebounds up. However, we could have a head fake with another reversal down, but that is abnormal. The other tech's and biogenetics are: tele = 42%, in a column of "0", bear confirmed, Software = 38%, bear confirmed, "0", computers = 30%, bear confirmed, "0", and biogenetics = 34%, bear confirmed, "0". Only the tech's are at these lows and near the oversold along with the precious metal sector. Therefore, IMO, the upside gain verse the downside risk is better with the tech's. The average bull % on June 1 was at the 50% level, this week it was at the 52% level. We must remember that we are in the 4 year of the Presidential cycle, the Fed is at the lowest interest rate for 5o years and the Fed is still pumping money into the economy. These aspects are very positive even with the Fed raising interest rate .50 basis points. Therefore, AMAT can move up, IMO, until at least the NOV. election. Just my opinions. Paul