Steve,
I'm not turning negative on Ancor, or the Fibre Channel market. Not at all. My concerns stem from a chart pattern that I noticed last week on another company I follow. Here is a link to the chart:
pcquote.com
Notice that immediately prior to January 1, 1998, MGAM was trading at almost $15. January 1, the price opened down $1, and closed down about $4-$5. It never recovered. Also note the volume increase on January 1. The only explanation I can think of is that investors took profits January 1, 1998, to defer the income until 1999. (At the time, I held no position in MGAM, but I can't find any other possible explanation.) In fact, if I hadn't been checking the MGAM chart, this conversation would never have happened.
My apologies for not having made this clearer in my earlier posts.
<<I find it amusing how people who check out turn negative once they have sold. Then they gloat if the stock goes down. If the stock goes up you never hear from them again. (where is Panita?)>>
Although I have indeed sold most of my ANCR position again (due to the factors I just discussed), I have not checked out, I will not gloat if the price goes down, and I will be kicking myself if I turn out to be wrong. I am simply uncomfortable with ALL of my investments for the next couple of weeks.
Craig
|
