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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: doc who wrote (22474)	6/8/1999 5:56:00 AM
From: donald sew	Respond to of 29386

Doc, >>>> is there any aspect of ta whatsoever that takes into account the action of another stock? <<<< Yes, and the performance of the sector/sub-sectors will also have an influence. Off-topic, I noticed Anthony Pacifics recommendation to short ANCR. Eventually, he will be correct but right now I believe he is early, unless he is shorting ANCR for small moves, which I dont believe is the case. Every stock moves up and down, and keep in mind that ANCR is volitile and can move in both direction. Just before the SUNW announcement ANCR dropped from the 12.5 range to 8 and bounce right back to the 10 range. Once the SUNW news wears off, whenever that happens,we should expect some movement to the downside. Hopefully that will happen when ANCR is much higher, but who really knows. We also need to keep in mind that if there is a bear market, basicly every stock will be effected, and to now feel that ANCR will be immune to a bear market may not be too healthy. At this time ANCR is healthy and in a nice uptrend. As much as I want ANCR to run straight to 20+, it may not be healthy for ANCR to do that right now. It would be healthier for ANCR to start forming a base, it which it can move higher from. If ANCR was to move straight to 20+ range it would be a parabolic move, and there is a fair probability that it could retrace most of its upswing from the last base which was around 10. Exaggerated moves to upside are commonly followed by exaggerated move to the downside - its my RUBBERBAND THEORY. ggggggg seeya