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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!!
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To: Kevin Hay who wrote (4164)8/26/1998 7:45:00 PM
From: DanZ  Read Replies (1) of 6565
 
Kevin,

VLSI may be weak because people fear that they will warn. One by one, the SOX stocks are warning...LSI, NSM, AMAT, who's next? At this point, I think a warning is already priced into the stock and it's trading very close to multi-year support at 10. The only thing that makes me wonder if we've seen the low is lack of volume the past few days. I'm currently out of the stock although I have been trading it the past few days.

Thanks for the news on durable goods orders. I'm surprised that orders for semiconductors and electronics were up 12% but I guess it's not hard to be up from such a pathetic number. I'm also surprised that the SOX was down today given the news. These stocks are very oversold and it's really bad when they don't even rally on what should be good news. I'm still positive on the SOX as long as it doesn't take out the June low at 226 but a test of that level might be needed before buyers have confidence that the semiconductor stocks have bottomed.

Dan
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