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

To: Gottfried who wrote (25795)	10/28/1998 1:22:00 AM
From: Paul V.	Read Replies (1) \| Respond to of 70976

Gottfried,Paul, [edited] 5 minutes ago I checked the very chart you speak of. And I remarked to a friend (by e-mail) how PnF showed no change at all in the price column of Xes since 34. But I don't see any fundamentals to support all that chart bullishness. Remember that it takes 3 "O" DW boxes to reverse down for AMAT to $31 from $34. Also, at these rates there is the Shakeout formation that we need to refer in your book. The bull support line is still at $24 but IMO I do not expect it to drop that far. However, a shakeout down 6 or 5 "O" boxes to $29-$28 is possible,IMO. With AMAT I have found that current fundamentals go out the window since WS just appears to raise the PE. Just my $.02. Paul V.