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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: Pierre Aydin who wrote (13416)	1/2/1998 7:28:00 PM
From: Craig Stevenson	Read Replies (1) of 29386

Pierre, The last 15 minutes were interesting. It looked like the price was going to fall back to 4 3/4, or something in that range, and then a bunch of buys came through. There was a tremendous flurry of activity in the last 15 minutes, with a couple of 5000 share buys at 5 3/8. There is no way to tell whether they were outright buys or short covering. All told, it was a powerful move, but who knows whether it will continue on Monday. A 44% return in two days is pretty good. (3 11/16 last Thursday, if my memory is correct, to 5 5/16 today.) Craig

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