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Technology Stocks : LSI Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Mark The Trader who wrote (7524)	10/28/1997 10:37:00 PM
From: DavidG	Respond to of 25814

Mark, I agree with you wholehearedly. When LSI had broke its support at 29 on a bad forward looking earnings report and went down to 23 I immediately sold 1/3 of my holdings on a slight bounce to 24. With A second 1/3 I traded LSI between 24 and 25 1/4 on any rallies. 25 1/4 could not be broken and it started its decline down to 18 5/8. The next few days may show a rally back up to mid 20s....but the market probably needs to retest the sub 20 level to be comfortable that there is good support there. I think at this time I will be loading up on LSI for the next move up. As LSI approaches 25 1/4 again I will start unloading and trading the stock for 1/2 to 1 point moves. If it decisively breaks this resistance than maybe 27 -29 will be next resistance. I am beginning to feel comfortable and excited that LSI might be starting a basing process given its long drop from 40s. Good Luck Trading DavidG