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Technology Stocks : The New QLogic (ANCR)

QLGC 16.07

0.0%

Aug 24 5:00 PM EST

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To: Bob Richmann who wrote (12035)	10/30/1997 4:27:00 PM
From: Arthur	Read Replies (2) of 29386

>Ditto to you & Michael. I sold out most of my position in ANCR at 6 5/8 this morning. Me to. I had already sold my trading shares due to margin calls. For some time I had been keeping 10000 shares as my core holding. Sold 4000 last week from my IRA at 7 7/8 when I saw the market debacle coming. Had kept my brokerage account shares as my cost basis was below 5 and wanted to hold for tax reasons. However this mornings report indicated the rebound in the stock is probably some time off and there are better places to put my money for now. So I sold another 4000 at 6 5/8, keeping a couple of thousand as I still believe the company has good long term potential. Its just that the short term doesn't seem to justify keeping all my eggs in that basket any longer. My biggest mistake was not following Kerry's advice to not buy a speculative investment like ANCR on margin. Craig C., I am curious with the number of people capitulating today does that mean we are near a bottom. Art

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