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

To: Jacob Snyder who wrote (22259)	7/29/1998 5:16:00 PM
From: Gary Burton	Read Replies (1) \| Respond to of 70976

TA fans-DJIT just took out its June Low, after failing to confirm the DJIA July high. IF the DJIA now takes out its June low of approx 8580ish, all the Dow Theory followers will jump on the Bear Mkt bus. From an EW point of view, a break of the June low by the DJIA could also be a wave 3 to the downside (wave 1 bottomed Tues am, wave 2 peaked this morning?). Jury is of course still out but there is a substantial risk now that June 20 was the high for the year on the DJIA and we in the early stages of a 20-30% drop that Biggs and many others have long been waiting for. My 2c is that this time we will get it. Max caution at the moment. This along with AMAT's CC in early Aug may be the catalyst to finally flush out the semiequips to a meaningful buying area. Food for thought.

To: Jacob Snyder who wrote (22259)	7/29/1998 5:23:00 PM
From: Teri Skogerboe	Read Replies (1) \| Respond to of 70976

Jacob, Thanks for your comments. Regarding your assessment of the MU upgrade, I agree fully. About me re-posting anyone's comments to embarrass them, I have no intentions of doing this, though I saw no posts of yours that you would wish to take back. Additionally, I never believed in the "efficient market theory" anyway. What a joke! Teri