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Technology Stocks : LSI Corporation
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To: E. Graphs who wrote (9950)2/20/1998 8:57:00 PM
From: shane forbes  Read Replies (2) of 25814
 
E

So what do you think of this low volume thing with LSI?
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The positive in my limited ability to do these sorts of things is that we are not going down with a thunk. Instead as mentioned before the 2 days with 3 million shares traded were both solid UP days.
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I was hoping that in an uptrend LSI would see at least 1 3 million shares/day a week and that absence is what has made this week BORING>>>>>>. Maybe next week.
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Patience seems to be the key here - we were in a basing pattern for so long - it just seems to me to be "reasonable" to expect every surge to be met with some resistance - all those buyers in the long base jumping at the opportunity to sell is making the stock's straight upward ascent difficult. (Of course why they picked 27 is beyond me - we could have gone to 29 pretty easily so that would make 28 1/2 a better bet. Or maybe everyone knew this and just lowered their numbers to get sells... - the reverse greater fool theory.)
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So should one read into this that LSI is merely hitting a high then coming back (on low volume), hitting another high then coming back (on low volume).
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Action is boring. But it is not suggestive of a top is it? (I would think a top would be up on light volume and down on heavy volume - the exact opposite of what's going on with LSI.)
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Therefore, as long as we don't get close to earnings season and people start destroying everything in sight, there may be hope yet for $29 - before say mid-March by which time the earnings angst may have begun?
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Yes LSI is boring now but there may be hope yet.
Yes LSI is boring now but there may be hope yet.
Yes LSI is boring now but there may be hope yet.
Yes LSI is boring now but there may be hope yet.
Yes LSI is boring now but there may be hope yet.
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(There that's 5 times for the $5 in price appreciation I expect. Heck if only because INTC keeps going up LSI being the potential INTC takeover candidate should follow....)
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