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Jeff,
I'm sure it 's probably just wishful thinking on my part, but I don't
see any reason why APM couldn't get back to its Feb high soon. It's
earnings are exploding. If the STUTC holds, we could see 60 in about three
months.
Jim
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> From: jeff f brady <surfingrincon@xxxxxxxx>
> To: metastock-list@xxxxxxxxxxxxx
> Subject: apm : Weekly Pick.
> Date: Sunday, July 20, 1997 2:55 AM
>
> 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
>
>
>
> --------- End forwarded message ----------
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