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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: tech fool who wrote (14945)	12/11/1997 1:25:00 PM
From: Judy	Read Replies (1) \| Respond to of 68197

TF, the semi equip makers are nowhere close to forming a good bottom for a sustained rise. Good bottoms take months to set. But I believe that the market will rally in the next few weeks and that these battered stocks will labor to test their 200-day emas from below. For AMAT that is at 35-36 and I will unload for a modest profit or do a ratio-write against my leaps. Battered stocks such as these will take multiple tries to successfully rise from the dead. I have posted to hit the drillers and the semi equip makers from the top on market strength and have not changed my tune since the end of October. The drillers may be in a secular bull market, but the market itself is vulnerable. The market, the sector, the individual stock ... gauge which factor is dominant at the time of the trade and act accordingly.