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Technology Stocks : LSI Corporation
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To: ed doell who wrote (21814)3/29/2000 1:24:00 PM
From: Andy M.  Read Replies (2) of 25814
 
Ed,
I don't think I'm the best person to ask, since I said a week or so ago that it was unlikely we'd have a double-top at around 90, and that's pretty much what we've got now, with all of the bearish implications of a double-top in force.

But a lot of good stocks are getting trimmed right now because of Abby Cohen's comments. I think with semiconductors, people are always looking for signs that the cycle is over, and so there's some panicked selling into significant downturns which makes them worse.

But LSI's fundamentals are not deteriorating, though the momentum behind the stock obviously has. I'm still hoping for a run-up as we get close to earnings. Also, consumer confidence was down yesterday, and other signs that the Fed tightening is working could lead to a nice bounce up after this sell-off is over.

Andy
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