Replies to post #107214 on Zeev's Turnips Patch-No Politics (ZEEV)

[westpacific]

Some bearish engulfing patterns on close.

DOW, BTK

Gonna get interesting.

SPX stopped today right on a trendchannel off the `8/02 and 12/02 highs.

[cannabis]

They'll ignore it.1600 by Friday(maybe a good short area...maybe).

[mlsoft]

Bearmove...

No, it was not a good report, but no one who is of sound mind was expecting a good report with all the layoffs, warnings, and other things AMAT has had lately. The question is whether the report is better or worse than the street was expecting, and frankly it was just a bit better I thought it might be.

Fundamentals are hardly important in this market and have been completely ignored. No matter what you think of the rally, you have to admit that as a fact. My guess is that they will ignore the bad report from AMAT, and try to run with it as long as there is no bad news out of the conference call - the stock is down on its AH lows at the moment, so I think others are concerned about the cc also. Probably the worst fear is a warning of SARS effects, which is quite possible.

If you think this quarter is bad, wait until you see next quarter - I expect worse, across the board.

mlsoft

[a/operator]

re AMAT.

I speculate that maybe AMAT's results, whatever they are, will be ignored for purposes of putting a damper on the rally. It could be that people just want to rally, period.

[otraque]

AMAT last quote 15.15, has been as low as 15.06.
Futures very slightly negative.
But we still have the unusual action of a strong rally in equities but T-Bonds have not weakened..
This was pointed out by someone in a post earlier today.gd.

[podstock]

Bearmove..AMAT had a TREMENDOUSLY GREAT report. First,

there was no "Arthur Andersen" accounting errors.

Second, there were no Enron-like fabrication of orders and sales of products.

Third, CEO and CFO did not follow Dennis Koslowski's footsteps and buy $30,000 shower curtains.

Fourth, Iraqi war ended.

You will see AMAT fly to the 20s in 1-2 months.

Earnings going forward are really irrelevant.

If it mattered, NVLS/KLAC/TER wouldn't have had the gains they've had since reporting earnings and giving forward guidance back in April.