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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: Ms. X who wrote (6018)	8/18/1998 8:30:00 PM
From: Mr. BSL	Respond to of 34811

Hi Jan. Great post grub!

To: Ms. X who wrote (6018)	8/19/1998 2:11:00 AM
From: Paul V.	Respond to of 34811

Jan, When I looked at the AMAT chart on DW's site I see that Tom has a bottom projected at $21. Currently, it is at above the Bull support line and getting close to a bear resistance line at $36 if we draw a bear resistance line from the recent top of 38 down at a 45 degree angle. When I look at the AMAT chart of 1996 Tom's today Charted low of $21 looks very reasonable. At $19.50 it would also equal the approx. 63% down form the high of $60 of 1996. The split adjusted PE according to our NAIC was at 13.3 high average and 6.5 low average. This converted to presplit PE reinforces Tom's high of around $41/$42.746 and a low of around $20.8910. Refering to my IBD charts where using the DW Charting pattern since February AMAT EPS has just broken yesterday from 90 to 70, RS just broke to 38 from 58 on 8/7, and the number of fund owning from 373 on 8/11 to 369 as posted this Tuesday. If you look at the AMAT chart with its formation of a triangle AMAT could go either way. However, it appears from the above data, IMO, it could continue south as noted on Tom's Chart. Jan, do you, Duke, or others have any thoughts regarding our observation of the chart and Semi, Market and AMAT chart. Naturally, the above is only my opinions and the data which I have reviewed from the Dorsey Wright site and Investor Business Daily Newspaper. Readers are reminded the old saving, "caveat emptor (buyer/reader beware)." Paul V.