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Technology Stocks : Texas Instruments - Good buy now or should we wait? -- Ignore unavailable to you. Want to Upgrade?

To: Bilow who wrote (2079)	11/15/1997 11:40:00 PM
From: Gary Burton	Respond to of 6180

Wave theory says once 5 waves up is completed, a retrace of 38-62% ensues, following which another new high occurs. When i look at the long term chart, I see 5 clear waves up from 11 to 142.50. So, a 50% retrace would bring it back to 77. Short term chart looks like it needs one more blip below 90--say to 87-90 area, then rebound to 100-115 then furthur move down below next week's bottom in the high 80"s--suggesting that mid 70's is very do-able. Another thing to keep in mind-there is a strong likelihood that MU will take out last year's low 16-17 per the chart--so this implies continuing negative psycholgy on TXN, regardless of low % dram content. Just my 2c