VLSI Technology - Waiting for good news from NASDAQ !!! Message Board

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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!!

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To: Linda Kaplan who wrote (2991)	2/23/1998 6:13:00 PM
From: Tech Investor	Read Replies (3) of 6565

NASDAQ looks pretty overbought at this level. I would not be surprised if we see a substantial pullback before middle of March. As much as I like VLSI and want it to go UP (have substantial number of shares + options vested in it), I really think we will re-test support @21 - 22 in 1 week (before end of Feb.). It simply does not bode well for it to drop 2 1/2 points in 1 day with no news or any tangible reason, on a HIGH volume. It's pretty obvious to see, profit taking does not have this kind of volume. Asia jitters will come back as we head into the 1Q earnings. I believe Wall Street have been too optimistic after 4Q earnings, when Asia factor didn't come into full play. I have exited most of my LONG positions (including VLSI), and will only be daytrading LONGs from now on. DOW + NAS has broke their record highs, it's time to go back down soon. Regards

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