apm : Weekly Pick.

[surfingrincon@xxxxxxxx (jeff f brady)]

I made a profit on some APM calls the last week before the downtrend and
am looking to get back in on the long side also.  Thanks for your input
on the support level of 28 . --, the weekly MACD is the kind of macd i
explore for, the only thin missing is that ther has not been a buy signal
yet, but it looks imminent.  What s your time frame for it to hit 60 if
it doesn't break your support level ?

Thanks for your input!
JB



All,
     Another great week in the market, even with Friday <G>.  MU hit my
target during the week so I replaced my MU LEAP Calls with PDG LEAP
calls. 
I also wrote covered calls on IOM and SCH when they hit the top of their
channels.  I don't have room for another position now, But I like Applied
Magnetics (APM) if I have to replace something during the coming week. 
APM
is a supplier of magnetic recording heads and head stack assemblies for
disk drives.
     APM at 32.375 is in a Short Term Up Trend Channel (STUTC) within a
Long Term Up Trend Channel (LTUTC).   The top of the STUTC at 39.675 and
the bottom at 29.5.  APM fell from a high of 60.375 in Feb 97 to the
bottom
of the LTUTC and a low of 22 on 6/20/97.  It bounced up from there and
broke the intermediate term down trend channel on 07/09/97.  I wasn't
tracking the stock then and I missed that breakout.  It then moved up ten
points in a week and fell back the last few days.  I like the
fundamentals.
 It has a PSR of 1.51, a PE of 8.12, Debt/Equity of 0.81, 19% insider
ownership, and its earnings are taking off.  I got a MetaStock RSquared,
S/c, CCI system test buy signal Friday.  If I do replace something else
with APM, I'll set the target at 60, just under the Feb high.  I'll set
the
stop at 28 3/4 just under the STUTC.
     I'll send a APM.GIF chart to everyone on the e-mail list.  If you
are
not on the list and want on, just yell.  The only obligation is
participation in this e-mail forum.

Jim 



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