The New QLogic (ANCR) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : The New QLogic (ANCR)

QLGC 16.07

0.0%

Aug 24 5:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Eleder2020 who wrote (20743)	2/11/1999 4:40:00 PM
From: Mr. Twister	Read Replies (2) of 29386

While no one likes to see a shave like we took today, in the longer run, technically this will make for a healthier stock. We had hoped that an announcement was forthcoming. Maybe it is, maybe it isn't. Two factors led to the retracement today: 1.) Chart breakdown. The past couple of days have broken support levels, but the stock was held up in anticipation of the conference call. 2.) No announcement. Many bought or held waiting/hoping that a tier 1 announcement would be made in conjunction with the CC. When there was no announcement, the stock started to slide. We had held at 7 1/4 the last couple of tests. It broke that and proceeded to the 50-day moving average. As someone else posted, couldn't think of a better way to get new investors in :) As Ed posted, this was a healthy correction filling in some of the gaps that we missed on the way up. Is it over? I can't answer that. But I do like that it has backed and filled (my pocket book doesn't) In the longer term, this will take out some of the concern going forward. Andrew

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next