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

To: Hank Stamper who wrote (21995)	7/21/1998 1:16:00 AM
From: Robert O	Respond to of 70976

I was "questioned" in an earlier post because I termed AMAT the uber-athlete...seemingly impervious to the bad news swarming the market. I didn't feel it had adjusted downward enough based on my expectations of the future. Then they announce that train wreck of a future and the price actually rallies HIGHER. On a "normal" day in a neutral or down market, the Street will crucify a stock price with an announcement like that. Forgive them, for they know not what they do. I am in Hell thanks to that reaction (and may end up there anyway if I don't watch the religious metaphor, yikes). It's taking a good deal of restraint not to chase this one down. This market is so queer, it will probably knock the price down after AMAT re-iterates previous warnings in the CC (as if mgmt. hadn't already dropped heavy anvil on soft heads). I tend to agree that Bull nasdaq run is floating the price for now, problem is I don't see anything on the horizon to turn the tide, yet. Should have followed oldest trading advice of all: In a Bull mrkt. no price is too high, and in a Bear mrkt. no price too low.