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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Early Bird who wrote (3972)	11/15/1997 6:57:00 PM
From: LastShadow	Read Replies (2) \| Respond to of 120523

Alien and AMAT: AMAT looks really strong right now, and although I'd like to see it clear 34 on Monday, as long as it makes a daily high better than the precvious days, it should maintain some upward momentum. Will it make new highs? Nope. You are absoluetly right AT - things are looking pretty good for the near term - next week or two at least. Wage index, productivity and growth metrics were all up and as long as production doesn't hit any bottlenecks for the holidays (not more than expected at any rate) the Feds should be happy. I expect next week to be pretty upbeat. lastshadow

To: Early Bird who wrote (3972)	11/15/1997 8:20:00 PM
From: Fred Weiss	Read Replies (2) \| Respond to of 120523

AMAT has an interesting chart: 1} Drops from $53 to $29 over 11 days in October 2) Makes a 7 day recovery to $40 (the 20 day MA) 3) Drops to a slightly lower low in the next 5 days 4) Is now 2 days into a rise after bouncing off lower Bollinger band Looks like a short term position trader's dream come true. I would, however, recommend caution. Friday's action began with a gap up and a failure to rise above that mark. The 20 day MA is much lower now ($35) and could be significant resistance. RSI is near over-bought on the one hour chart and ended Friday turning south. DMI and RSI are both in negative territory but headed north on the daily chart. ADX is high (42.9) and declining indicating an end to the current trend (down) but a liklihood that the stock will be in a trading range for the near term. My guess would be $30 to $36. There doesn't appear to be much downside risk here, although I think I'd wait to buy on a pullback to around $30. There is major support at $29 and fairly heavy resistance at $36. In short, look for another test of it's recent lows that bounces at a higher point than the recent $28.75. A close on Monday above $33.75 would be a good indication that my analysis is not correct and a good buy point if it occurs. Good luck. Trader Spud