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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: drsvelte who wrote (19676)	2/25/1999 10:44:00 PM
From: Lee Lichterman III	Respond to of 42787

I am not looking to go long. I have stated I am playing shorts only right now. I was asked about AMAT a while back and gave my input that it would not be a good buy at that time. While I don't have a buy signal now by any means, someone that wants to get in it and not miss out is better off now than a week ago as I stated in my post. I have a weak support line at today's close from the lows of 13 Jan and 5 Feb that is hard to see but by doing normal TA in reverse (instead of connecting the lows in a rising trend, connect the highs and then drawing a parallel line below it, it falls into place there. I agree that hard support is difficult to find on this one due to the nature of the last run up. I have a diagonal pointing to the 50s area you mentioned and then there is a long term channel that is much lower. AMAT was out of favor last year so supports are much lower than on most stocks as are most of the semis and semi equips. I don't trade semis long, but only play the short side based on FA mostly. The semi equips I feel are in better shape FA wise but I like playing other sectors as the semi equips are just to non-TA friendly since they ae always running full speed ahead or crashing. Give me something that follows a channel or a fork and I am much happier. <g> Good Luck, Lee