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Technology Stocks : The New QLogic (ANCR)
QLGC 16.070.0%Aug 24 5:00 PM EST
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To: Craig Stevenson who wrote (16940)6/30/1998 10:46:00 AM
From: Bob Frasca  Read Replies (3) of 29386
 
Hello Craig:

"It still doesn't make sense to me that these guys are taking jobs at Ancor, if everything is as bleak as it sounds to investors."

Presumably, this guy wouldn't have taken the job if he felt that Ancor was in it's final swirl before the last of the water got sucked out of the toilet.

I don't like the action on this stock and I took a bad margin hit but I'm still in and I'm staying in. While I hesitate to use the word "manipulate", there does seem to be a concerted effort both here and on the Yahoo thread to promote panic. I actually thought that the early action yesterday was a capitulation type sell off.

The fact is, this company and it's management does not fit the profile of a beleaguered company. There is no insider selling other than the programmed selling we are all familiar with and even that has stopped. There has been insider buying as recently as last quarter. Management is not leaving and is, in fact, hiring. By all accounts posted here, personal conversations with management, including those posted by you after your visit, were easy and relaxed with no undercurrent of tension one would expect to find with a company "on the brink".

I've got a couple of weeks before my 30 days are up and I can buy back those shares I reluctantly parted with but I am ready. I just hope the stock is still this cheap.

Bob

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