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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!!
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To: shane forbes who wrote (4495)10/1/1998 5:02:00 PM
From: DanZ  Read Replies (1) of 6565
 
Here's some chip stock news although there's nothing specific to VLSI.

cbs.marketwatch.com

I believe the only thing holding VLSI back from rallying to 9 1/2 - 10 is the overall poor market conditions. The demand is good below 7 3/4 but there are enough sellers around with the market tanking to temper rallies. I am testimony to this as I have been in and out of the stock several times this week for 1/4 to 1/2 point profits although I made 1 5/8 on my buy at 7 1/16. I think the stock is dirt cheap and want to hold a long term position in it, but you can see the sellers come in when the market starts to drop. The mentality is to get out before somebody beats you to it, so instead of holding, I have been trading it to lock small gains. Why hold it at 8 when you can take a 3/8 point profit and buy it back again? The way it's moving around, the worst one can do is buy it back where you sold it after the latest market selling wave passes. If enough people think along these lines, you can see why it has been in a holding pattern. The good news is that the stock is basing during the big decline in the market. The longer the base, the better the pop when it starts to move up.

Luck to all,

Dan
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