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Technology Stocks : LSI Corporation
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To: country boy who wrote (20098)10/6/1999 8:24:00 PM
From: E. Graphs  Read Replies (1) of 25814
 
Country Boy,

Up until yesterday I honestly thought we were going to roll over with all the semis and see 40/42, but then the charts showed great support at 51 area and SOX seemed like it had more to go. Of course, even if we did check back to 42 that would have been quite the buying opportunity.....three year recovery and all that.

So, when I saw a potential breakout above resistance ~58 area I jumped back in. Now I expect to see resistance at 63 and targeting 76 for this run (unless I'm daft, which is entirely possible). Only got 1/2 of what I had (put some gains elsewhere trying to be prudent), but since I expect LSI to split down the road I guess I'll get it back. <g>

I was also encouraged by a sense of renewal in some storage stocks I follow and so hope that that side of LSI will bear fruit again come earnings. For all the news out on the company concerning the storage area it seems to me that the market may still not be giving LSI enough credit in that area........but we will see.

All considered I got back enough of LSI for me and if things get crazy and I see it lower than 51 area I will add to my position again.

RE IDTI: I looked at it too, and ended up getting IRF for giggles and also CRUS <no kidding>...I think I see a diamond reversal on it with a 17 target and then maybe even higher. If it doesn't go anywhere I will just blame Wolf for teaching me how to bottom fish like a Canadian! <gg>

Good Luck Trading!

E!
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