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

To: Iceberg who wrote (25623)	10/22/1998 7:58:00 PM
From: Math Junkie	Read Replies (1) \| Respond to of 70976

You know, I really can't get too paranoid about today's move, considering that it has followed huge rises in most of the sector for the past week.

To: Iceberg who wrote (25623)	10/22/1998 8:06:00 PM
From: Hightechhooper	Read Replies (1) \| Respond to of 70976

Ice, Welcome to the semi equipment sector!!! This happens every quarter during a downturn...panic buying due to fear of missing the big recovery and this time based on some off the cuff comment from a little tiny supplier of amat. Typically, today's action would mark a peak but with the fed meeting on the 17th and amat earnings on the same day prices may hold these gains or go higher (at least amat) over the next couple of weeks. This is a good time to take a partial short position and average it out if it keeps rising. Profit taking will surely hit when amat reports on the 17th and makes no committment to a turn around in 1999. When these stocks do fall they will make higher lows, however, as an air of speculation has returned to the stock market thanks to Mr. Greenspan. The bull market is back and any pullback should now be considered a downmove in an uptrend IMO. Good luck, all technical indicators read extrememly overbought and there is no fundamenatl support for those readings to hold for any extended period. You may want to double your short in the 33-34 range and then keep doing it for every $2. Then you will raise your break-even point and possibly make some money.