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

To: Bob Frasca who wrote (23327)	7/15/1999 10:40:00 AM
From: Ed Schultz	Read Replies (1) \| Respond to of 29386

Bob, Much better, thank you. Ed

To: Bob Frasca who wrote (23327)	7/15/1999 10:47:00 AM
From: donald sew	Read Replies (3) \| Respond to of 29386

Heres my current technical reading of ANCR, for those concerned or interested in the current pullback. It could be argued that this rally started at either 10, just before the gap or at 21. If one really wanted to get technical one could even argue that this rally started at 1, but for now lets stick to 10 or 21 as the starting point of this rally and 38 as the interim top. FIBINOCCI RETRACEMENTS are from 38%-62% of the rally, so if: 1) 10 as the starting point - retracement to the 27.50-20.50 range 2) 21 as the starting point - retracement to the 31.50-27.00 range (rounded off to the nearest 50 cents). My belief is that if the lowest of these ranges are broken to the downside, that could imply that an important top has been set for the interim. The key for the intermediate term(30 days) is how will the rebound perform. If a LOWER HIGH is produced then, for the interim, ANCR could be in a downtrend. seeya