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Technology Stocks : LSI Corporation
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To: E. Graphs who wrote (13711)7/20/1998 10:40:00 PM
From: thomas hayden  Read Replies (1) of 25814
 
Ms. Graphs, you are right we are definately trying to fill the gap caused by the Kurlak upgrade. I hope the early June low of about 21 1/4 to 21 1/2 (I can't tell exactly on my chart) holds. If so we have created a triple bottom dating back to March, June and now. If that holds I think we will be alright, otherwise the next support is a retest of the 52 - week low. Unfortunately we have plunged through an up trend line and the force of which we have been selling off the last couple of days is unsettling. The last several days the trading pattern has been basically 10,000 for sale on the offering as a constant, and I dare you to put up a bid, the size doesn't matter, just give whoever a chance to hit it.

I hate to say it, but it doesn't look like the 21 1/2 support will hold. Both the weekly and daily stochastics are both in down trends. We are due for an up day just because we have shaved off 15% in a couple of days but it looks like we are heading down. Don't know what to say except that if you really believe in this company I believe you will get a good buying opportunity next week. I'm mad at myself for not writing covered calls last week, I knew better.

I find it interesting that before the last earnings report we ran up and LSI came up a penny shy. For this earnings report we are selling off big time. Ummmm.

Someone doesn't want to take chances this time.
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