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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!!

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To: William Grady who wrote (4322)9/3/1998 2:56:00 PM
From: Tech Watcher   of 6565
 
Interesting trading patterns today.

There is too much volume at this point (3.5M shares) to only have it hit 8 once. Shame on all you longs that let others accumulate and cover this low. Looks like quite a few day traders had sells in at 8. It triggered market sells that dropped it back to 7 3/4 immediately. Once we break through 8, it shouldn't take too long to test 9. I'm afraid we'll have to be content with 8.5 to 10.5 range until some evidence of industry-wide upturn surfaces.

Good luck,

- Tech Watcher
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