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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Investor2 who wrote (14535)	1/13/1998 11:35:00 AM
From: Trader X	Read Replies (1) \| Respond to of 70976

Excellent question, I2. And that's a question I'm trying to determine not only from AMAT's chart, but from studying a basket of semi equip stocks. quote.yahoo.com namely, amat, sfam, ipec, asyt, cfmt, and cymi. This is the universe of my basket because I believe each is a strong company that will lead the rebound, once it comes. I'm still looking for a "shakeout" day -- huge volume, lower lows, followed by a price trend reversal. While the charts of all these stocks seem to be bottoming out lately withoin narrow price ranges...and Monday's price action was noteable for it's lack of sellers and predominance of bottom pickers, I don't think we're out of the woods just yet. Earnings season has been kicked off by MOT, and they were downgraded simultaniously, btw. I think that as some earnings show disappointment due to the Korean problem, the shakeout day will hit. AMAT may hit $22 then. What I'm doing is waiting for the big over-reaction day. However, these prices are close enough to the bottom to begin thinking of accumulating gradually. -K2