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Technology Stocks : LSI Corporation

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To: Howard Feinstein who wrote (17188)	2/25/1999 12:36:00 AM
From: Steven Ivanyi	Read Replies (4) of 25814

<<Very impressive day for LSI, considering the big late day selloff! The volume was a bit above the daily average too. Kinda' get the feeling LSI can move past 30, maybe to low mid 30's, if the market can just show some sustained strength. But that's a BIG if>> Depending on market conditions tomorrow, I'll probably short LSI at 30 or so. The reasons being: the stock is overbought technicall and due for a correction, semi-conductors are falling out of favor, despite the showing today it put in a black spinning top - a pattern that shows market indecision in direction, usually down. The big and most important reason is that 30 is a very real and strong resistance level for this stock. It will take a hell of a lot of buying to go past this level. Just my thoughts, bought and shorted LSI lots before, made money most of the time. Regards, Steven

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