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

To: George Dawson who wrote (29068)	10/22/2002 6:27:39 AM
From: Bob Frasca	Respond to of 29386

Hi George, I'm not sure if you're talking about the Q or the market in general but I thought I'd make a couple of comments. Those "dips" were the Q being taken out back and shot due to news from the likes of EMC as well as the general NAZ malaise. The current short position on the Q is somewhere around 20% which further exacerbated the problem and which will fuel a meteoric rise at some point. In my opinion, this stock was grossly oversold and I was buying, in the low 20's, for the first time in several years. The earnings for this company were stellar and, in my opinion, the guidance was excellent. They stated, at least twice that I heard, that they were deliberately being conservative due to their "limited visibility". In an environment where everyone was guiding flat to down, this is no small feat. I think the ELX earnings this week will be interesting. I think the Q has been taking significant market share from them in the HBA market. If their guidance is flat to down I imagine the Q will get dragged down but I think it will be a strong indicator that the Q is taking market share. If they guide up, then it will add fuel to the market. The pundits babbling about IT spending don't understand that IT is, in fact, still spending. They're simply spending more wisely. Storage is still a popular choice although the money seems to be in the mid-range products versus the high-end stuff like EMC sells. Mid-range is right in the Q's wheel house. JMHO...