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: Craig Stevenson who wrote (12754)	12/1/1997 11:30:00 AM
From: John Curtis	Read Replies (2) of 29386

Craig: It look's like ANCR's forming a double bottom, with the 2nd stage of that bottom being somewhere around $4 to $4.5. If further slippage happens, and I give it a 70% probability as long as there's no news of note between now and year-end, it'll reflect a roughly 60% retrenchment from recent high's. Assuming ANCR's worth anything at all, and that management is positioning themselves for the first half of '98, this second bottom should be followed by a relatively sharp increase during 1st qrtr '98. THIS ASSUMES NEWS OF NOTE. Without any news.....welll...ANCR stays wallowing around at this, or a further depressed, level, regardless of any great Fibre market sector news(imo, of course). And ANCR isn't even a daytraders dream right now, given current volume stat's. Me thinks the best place is on the sidelines watching for an entry point, which should be around that bottom I referenced above. John~

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