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Technology Stocks : LSI Corporation

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To: Maverick who wrote (22483)	7/26/2000 10:13:18 PM
From: wolfdog2	Read Replies (2) of 25814

Maverick, it will be interesting to see what LSI does at the conference tomorrow. They have a chance to put to rest some of the nonsense being bandied about by a few of the brokerage firms. To wit, they can stress that the $20 million shortfall has been made up and in any event only accounted for 3% of sales last quarter. Also that business is strong, not weakening. They said it all on the cc but apparently some of the folks on WS need to be hit on the head by a two by four before the get the message. Also the media trumpeting LSI's poor quarter hasn't helped. As I recall this is known as a whorfian error, i.e. a labelling error. Brand Q2 as a poor quarter and all the dumb selling makes sense. FWIW Michael Murphy just added LSI to his model portfolio, which lately has been 100% in cash. My guess is that over the next few days we are going to see a nice bounce, then a pull back and a retest of the low, followed by a substantial rally in the fall. It wouldn't surprise me to see LSI back in the 60-70 range by year end.

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