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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (4296)	1/3/1998 1:11:00 PM
From: Robert Schling	Read Replies (1) \| Respond to of 10921

Zeev, You're right, MU is at am interesting juncture too, from a TA standpoint. 28 resistance has held 3 times since November. Several indicators point towards an overbought condition. From a fundamental standpoint, I just don't see a MU breakout at this point. If it does happen, we may have an interesting case of "frontrunning" an improvement of the memory supply-demand situation because the brakes have been put on South Korea capacity expansion. Or just another proof of the greater fool's theory. Anybody's guess at this point, with so many people back on board of the "January effect" and the never-ending bull market. If somebody put a gun to my head, forcing me to decide to go short or long, I would go short. I wouldn't be surprised if MU retests its July 1996 low. Since I'm short AMAT already, I'll be a spectator. Good luck Robert