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Technology Stocks : LSI Corporation

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To: uu who wrote (12259)	5/10/1998 9:04:00 AM
From: shane forbes	Read Replies (2) of 25814

Addi: RE: AMAT effect on LSI - (1) This is a toughie. Even though LSI has gone down on relatively low volume (and therefore in the absence of disastrous news one would think it would thereby rebound - but disastrous = AMAT news) it just shows how jittery and what weak stomachs most investors/traders have when it comes to putting money in LSI. Overall I don't blame them but it just amazes me. [If AMAT did not announce I bet we would be at 27 in a heartbeat. My guess is that some of the money on Thursday that vacated the market on Thurday did a stock shift and got into some of those really good stocks that took a beating from Mon-Thurs. Others in "weaker" n/t stocks like LSI also must have joined the party in the rush to "quality" stocks that were thumped over the course of Mon-Thurs.] ---- I checked the listing of the stocks that institutions dumped the most in q4'97 and you guessed it - LSI made it big time. 16% of shares owned by institutions were dumped in q4 - now we are around 38-40% in institutional money in the stock. (Believe it or not only OXHP and one or 2 others were more dumped than LSI on a % basis. Amazing. Then again I too dumped so I can't fault others!] (As an aside, this is about the lowest it has ever been for LSI since early 1996. If you remember in its heyday LSI was at 80-85% institutional interest. We dropped to 70% and then 55% and now 38% in 3 distinct mass dumpings. If you are a contrarian you have to like this!) The silver lining with the lack of institutional interest is that LSI is not going to be unceremoniously dumped by big guys since there aren't many big guys left!!! This is primarily dependent on individual investors' opinions and I guess those involved in sector bets - the sector effect is more crucial since I would make the case that LSI is doing very well business-wise. ---- Shane.

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