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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 (12827)	12/2/1997 8:38:00 PM
From: Kerry Lee	Read Replies (2) of 29386

ANCOR RECOMMENDED BY DAIN BOSWORTH TECHNICAL ANALYSIS GROUP I received a 2 page fax report from a Dain broker this afternoon. I'm not sure whether the report was distributed yesterday or today. The report is titled "The January Effect" and was put together by Dain's TA group led by reknowned TA guru Robert Dickey ( who is often quoted in WSJ and NBR ). The report recommends a diversified basket of at least 5 of their 24 recommendations. Ancor is included in this list of 24 beaten down stocks which are recommended purely on a technical basis, ie there is NO fundamental analysis involved with these picks, with the exception of 7 of the stocks which are officially followed by Dain. Here are some excerpts: "The January effect is an annual stock market phenomenom in which trading opportunities exist in distressed stocks that have moved down in price near year end. Created by tax-loss selling and year end instituional portfolio window dressing, downward pressures can take share prices to unrealistically low levels. Then in January, many of these fallen issues bounce back up in price as the year-end reasons for liquidating poorly performing stocks abate." It appears that the report was written on Nov 28/97 as it has a chart showing the ANCR price at $5.72 as of Nov 28. The "BUY ZONE" for ANCR is listed as 5 1/2-7 with a stop loss set at 5. They have a 3-6 month price target of $10. There is some more verbiage on their technique for picking these 24 stocks but I have to go watch my Sonics play the Wizards. For the doubting Thomases who want to verify my info, the following are names/phone numbers listed as authors of the Dain report: Robert Dickey, Managing Director (612) 371 - 2705 Brian Belski, Vice President ( 612) 371 - 2713 David Therkelson, Research Associate (612) 371 - 2714

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