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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!!
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To: Doug who wrote (3869)7/16/1998 12:06:00 PM
From: DanZ  Read Replies (2) of 6565
 
Doug,

There a few reasons why VLSI might be down today.

1. They missed by 1 to 2 cents on an operating basis. Big deal I say! The future is more important than the past and this is creating a buying opportunity.

2. The SOX is down 3 points today--just profit taking IMO.

3. The Nasdaq traded briefly over 2000 and has since retreated a little. Short term psychological IMO.

I listened to the conference call and found the comments very bullish. While you are certainly entitled to stay on the sidelines, VLSI has traded in a wide range from 15 to 20+ for a while. I think our differing view are a matter of timing. Possibly I'm just a shorter term trader than you.

As such, I bought back 3000 shares today, flipped out of 2000 for a small gain and am looking to buy 4000 more over the next few days. VLSI and the SOX will trade much higher over the next several months, IMO, and I'm not going to stay on the sidelines and watch it.

Dan
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