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

To: Gottfried who wrote (21097)	7/4/1998 5:11:00 PM
From: Gary Burton	Read Replies (1) \| Respond to of 70976

GM---I use Elliott Wave ---the pattern that AMAT is tracing out from the top looks very much like a DOUBLE zigzag. We had the first one awhile ago that bottomed at 25.63 as I recall. The second one is also a 3 wave (ie a zig-zag) and we have only done the zig down to 26. We are probably very close to ending the partial retracement move up and will likely soon start on the 'zag' if we have not started on it already. I would not be a buyer unless and until AMAT dipped below 25.63 and then gave some evidence that the 24-25 area was holding. I use a TA software package called Advanced GET which signals where the next support is likely to be based on the momentum of the prior waves and it is signalling 24-25. If that doesn't hold we may see the high teens. my guess is that it will likely hold. My 2c only.