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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Logain Ablar who wrote (40889)	3/31/2004 11:27:21 AM
From: Johnny Canuck	Respond to of 70421

ATYT CC: I only have a chance to hear the first part of the call. -see no let up in PC demand -slightly weaker laptop demand q-q, not material -Q was stronger than expect given that this q is usual down -expect new product launch in next few weeks -expect contribution from handset strategy in Q3/Q4 -seeing tightness in Fab capacity and wafers, no direct comment on wafer pricing though -Use UMC as one of fabs [Harry: Technically this has broken the intermediate down trend. Earnings are out of the way for now, so it should be safe to trade for the next 90 days.]

To: Logain Ablar who wrote (40889)	3/31/2004 3:41:19 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70421

COMPX can't stay above 2000. I would expect it to fall under its own weigh as a result. Is this analyst's interpretation of the fall out of the QLGC warning accurate? ************************** 09:50 ELX Emulex Corp testing its March low (20.52 -2.25) -- Technical -- Upon gapping $2 lower this morning, the stock is currently testing its March lows near 20.35. If these levels are taken out, next area of support lines up with its May and August 2003 lows at 19.59 and 19.70, respsectively. 07:27 ELX downgrade details (22.77 ) -- Update -- ThinkEquity downgrades Emulex (ELX) to Equal-Weight from Overweight and cuts their target to $26-$29 from $33-$35 following Qlogic's warning (see 7:03 and 7:06 comments); firm believes that the primary source of weakness for Qlogic was Sun Micro, to which Emulex has little exposure, and that Qlogic's miss was exacerbated by continued softness in its hard drive controller business, to which Emulex has no exposure; however, firm believes that H-P was also to blame, and since H-P is a 25% customer of Emulex, they are downwardly adjusting unit assumptions.