Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

Not a high probability of a close above 2000, and I am not even sure if we print 2000 despite AMAT and DELL coming in tomorrow. I am no virgin to being wrong, but that is what the "map" says, and would rather not get carried in the exuberance of the "fantastic" AMAT results, AMAT's current price is discounting not $.06 earnings per quarter but closer to $.18 per quarter. If you see that anytime next year, maybe the jubilee is justified. I don't and I think next year will be a peak year in AMAT's earnings, maybe getting $.60 to $.75 for the year, after that another down cycle. Of course, the market has its own "dynamics" and many fundamentalists seeing AMAT here and shorting it here may be right "in principle", but wrong on the technicals....