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Technology Stocks : Vitesse Semiconductor
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To: JK who wrote (1448)7/6/1998 3:56:00 PM
From: The Ox  Read Replies (2) of 4710
 
When the stock hit 32 5/8s this AM, I think this was a level that would make many consider taking profits, it certainly made me think very hard about selling. With strictly short term thinking, a conservative investor might protect profits, especially with earnings due out in 3 days. This stock is up almost 50% from it's recent lows and up 33% from the recent fall to 24. Notice the volume was not exceptional, so I think we are experiencing the nervous, weak, short term players lock in profits.

I decided to ride out the short term and wait for Thursday's announcement. We will see if this was a prudent decision.

Also, I think the stock wanted to fall back to 29 so Tom Veale wouldn't feel bad about pulling the trigger a few days early! :)

JMO,
Michael
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