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Technology Stocks : Novellus -- Ignore unavailable to you. Want to Upgrade?


To: AllenP who wrote (1388)2/20/1998 6:25:00 PM
From: Todd D. Wiener  Respond to of 3813
 
It looks as if NVLS and AMAT (as well as some other chip-equips) have peaked for the short-term. These 2 stocks couldn't stay over their 200-day MAs, despite trading above them today. I suspect that over the next month, the trend will slowly head down, culminating in the Japanese capital spending plans announcement. Writing covered calls may actually be profitable right now, as these stocks face technical resistance, as well as short-term fundamental issues.

Todd