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To: patron_anejo_por_favor who wrote (38482)	5/8/2002 6:59:13 PM
From: The Freep	Respond to of 209892

<<OTOH, what DID juice the stock TODAY was the combination of QLGC's reasonably bland report yesterday, coupled with a 9+ percent short interest. Potent fuel indeed when you're already oversold... >> I do have to say that while QLGC's earnings were not blowout, they are the rare tech company that is predicting growth per quarter even in the current environment. Yes, it's low single digit growth as of now, but that also doesn't factor in the new OEMs they've announced (alliances with CSCO and IBM) because, well, there's no guarantee they'll contribute to the bottom line in the near term. After today's extravaganza, their forward PE is a rich 45 or so, and they aren't growing that fast. But I think it should be noted: they are growing. Add that to the short interest, as you said Patron, and kablooie. (What's interesting to me is that QLGC's good news was not particularly good news for EMLX, BRCD or NTAP. In fact, the way QLGC downplayed their switch business makes me think they're looking to sell the former Ancor unit (to CSCO, perhaps, which couldn't be good for BRCD).) Anyway, BRCD repaired some chart damage today, as did NTAP, EMLX and QLGC. If the Naz is gonna keep going, I suspect it'll take all three of them breaking over their recent highs. I suspect they need a couple days of consolidation to do it, as they're near resistance and had 25% moves today. That said. . . if this WAS a retest of the lows, what's to say we won't have a May/June like last Oct/Nov? OK, sure. . . today was a whomping big gap up, unlike back then, etc.,etc. Wild day indeed, the freep