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

To: Tom Hua who wrote (22970)	6/23/1999 12:54:00 PM
From: Patrick Sharkey	Read Replies (1) \| Respond to of 29386

How does today's "lower low", intrad day, correspond to yesterday's "higher high", intraday. If your hypothesis is true, as of today, yesterday's hypothesis should have been an uptrend. Doesn't comparing yesterday and today indicate that too much is made out of one or two days' events?

To: Tom Hua who wrote (22970)	6/23/1999 1:06:00 PM
From: donald sew	Respond to of 29386

Tom, >>>> today we have lower low, and most likely lower high and lower volume. Does it signal the onset of a downtrend? <<<< There are actually 2 inclining trendlines: 1) Starting at the end of MAY around 8. That trendline is near 20 today. 2) Starting in APRIL near 5 and connect that to when ANCR was at 8 at the end of MAY. That trendline is near 11 for today. If we break 20 to the downside, it is possible that ANCR could be in an intermediate or short-term downswing. As I posted yesterday the FIBINOCCI RETRACEMENT is in the 21.50-19.50 range. Selling in access of a FIBINOCCI RETRACEMENTS are hints that the stock may be in short/mid-term downswing. Since the low end of the FIBINOCCI RETRACEMENT is around the same level as the trendline(now at 20), I would suspect that if ANCR got to around 19 and did not bounce up quickly, it could be a hint that the downtrend may continue. Until that happens, we are still in a short-term downswing in a SHORT-TERM & INTERMEDIATE-TERM & LONG-TERM UPTREND. seeya To put in perspective, ANCR is in a LONG-TERM UPTREND in light of the main trendline at 11.