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Technology Stocks : Vitesse Semiconductor
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To: Robin who wrote (131)6/25/1996 5:18:00 PM
From: Jim Roof   of 4710
 
Robin,

I do not think this is news driven. It is inherent in the natural ebb and flow of market action. As you have read in some of my other posts, VTSS has encountered a major reversal top and is now in a bear downtrend - not just a corrective move in my opinion.

If you are long you would probably want to find a place to get out. The likeliehood of further downside action is as close to 100% as you can get, though there WILL be some short rallies along the way.

I plan to trade VTSS short, probably for 2 or three trades. I am short at 24 3/8 right now with a target of 19 (actually, it may get to 18 but I think 19 is an easy mark).

You can't fight this thing. Best thing is to exit as grasefully as possible and don't sweat it. This is the kind of move that could eventually take the stock to the single digits in a few months.

I hope all goes well.

Jim
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