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Technology Stocks : LSI Corporation
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To: DavidG who wrote (14301)8/18/1998 10:11:00 PM
From: E. Graphs  Read Replies (2) of 25814
 
We've got some pretty good long term support here, and a double bottom intraday at the close..........was surprised things didn't go better after noon since that double test of 19 in the morning held well, and it seemed as though we were off to the races before that large block came through........must have been on the sell side, I guess that large block just sitting there caused the initial selling and test of 19, and then after the block sale more weak hands sold.......causing capitulation. Wolf is right about many good opportunities out there, so no need to hang on to a dog going down. The one good thing about this is that it is now most likely done.

Patrick never got an answer for what is the short interest of LSI?.....I'll see if I've got it somewhere. The whole thing seems odd. Only good solid news and future expectations from the company.........not gangbusters next quarter....flat.....but no need for a sell-off.........pretty weird. So, I'm guessing it was short manipulation.......because of the strategic placement of the block sale and because there's been no news, and none that I can possibly dream up, for this kind of a sell-off. Wilf made a comment that shorts would have a tough time messing with LSI now that the Sony business is "smaller".........maybe the shorts have found some other BS to pull........that's why I asked if LSI was mud in the street. Perhaps the stock is never going to reflect the company........

All just guessing...........
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