The New QLogic (ANCR) Message Board

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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: Kerry Lee who wrote (12257)	11/5/1997 10:57:00 AM
From: ed doell	Read Replies (3) of 29386

Gentlemen! Gentlemen! Support at 5 1/2 to 5 5/8. I've said that before, but I've also said that this is slippery territory to the $4 1/2 range. Your one saving grace here is not speculations on insider buying, which may or may not be. Same is true for insider selling. Who is selling at this level? Now that's a question. Your saving grace is the huge short position in ANCR which must be covered at some time. IMHO the nibbling you have been seeing on the offer, the support also at the mid $5, is just that...short covering. Nothing else. The selling, I have no idea where that is coming from. No one would bother shorting it from here. The r/r is too thin. Ed

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