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Technology Stocks : Vitesse Semiconductor

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To: Clay Enos who wrote (157)	7/29/1996 6:17:00 PM
From: Jim Roof	of 4710

Clay, A head and shoulders pattern is a technical trading pattern that occurs when shares reach a buying climax and turns into a market that is driven by selling. While VTSS was running up the market psychology was 'buy on the dips'. After the top pattern completes, the shift is to 'sell on the rallies'. The reasons for this are many and varied but suffice it to say that this type of top is very reliable and is considered as a major turning point in individual issues. If you are in it for the long haul then you could stay put but I think you have a very good chance of adding to your position in the low teens, maybe even lower. Again, this is friendly advice and you might want to protect your gains with a stop. Good luck, Jim

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