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: peter grossman who wrote (13961)	1/29/1998 1:48:00 PM
From: Craig Stevenson	Read Replies (3) of 29386

Peter, I have done some pretty extensive research on this over the last two or three weeks, and I believe that the majority of today's move is technical in nature. Tax-loss sellers late last year had to wait 31 days (my understanding is that this includes the day of the sell) until they could buy back in. The volume on December 29, 1997 was 236,800. Those sellers could have bought back in today. The volume on December 30, 1997 was 443,800, and those sellers could buy back in tomorrow. There could also be some short covering going on, given that there are still over 400,000 shares short. I would have shared this information earlier, but I get tired of having to defend myself everytime I say something positive about ANCR's stock price. Maybe once we get beyond the Q4 earnings, things will return to normal. Craig

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