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

To: Eric Humphrey who wrote (22477)	6/8/1999 6:13:00 AM
From: donald sew	Respond to of 29386

Eric, I am bullish and for now holding long ANCR. However, just prior to the SUNW announcement I predicted that ANCR would retrace from 12.5 to the 8-9 range, which it did. When I posted that I received some private mail politely opposing my thoughts, so there are those who are overly bullish and may be personally tied to ANCR,as I was back in 1996/1977. Eventually, ANCR will become a better short candidate once it starts showing technical weaknes, but right now it is early since ANCR is in a firm uptrend. Granted if a bear market starts or if the overall market corrects hard, that would put downward pressure on all stocks. As for short-term timing based on overall market conditions not ANCR, your timing may not be that bad. In fact I just started adding to my PUT/short position yesterday, but I only did it with indices. Also I am only looking for a pullback of about 300-600 points on the DOW, for now, although it could get worse. Im not saying that ANCR cant pullback, just that it is not one of the better candidates to short at this time. seeya