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

To: JB who wrote (12805)	12/2/1997 12:28:00 PM
From: janski	Read Replies (1) \| Respond to of 29386

' The news on the street is that a small brokerage house was closed by the SEC and there was a small position of ancr stock in their inventory which has been sold off. This was a small position, but it did have an effect.' Well, that explains everything. Thanks JB, I was actually getting worried that perhaps some investers were loosing confidence. Incidentally, the last time I heard explanations like this for a dropping share price was on the Nuko thread. Over there, it was margin calls causing CEO to unload his options and then year end selling by mutual funds in late October. And no, I don't think comparing Nuko and Ancor is fair but I wasn't the one who brought that comparison to this thread.

To: JB who wrote (12805)	12/2/1997 12:57:00 PM
From: John Curtis	Read Replies (1) \| Respond to of 29386

JB: To support your "small house closed by SEC" please provide the name of that house for corroborative purposes. Since you state the SEC has closed it, it now becomes part of the public domain so sharing it's name shouldn't be an issue. On another note, ANCR has broken down below $5. If it closes below $5 then look out below.....the next support level is around $4, which means a complete retrenchment, so for those who rode it from it's former low to it's high, and those who shorted it on the way down....congratulations. Me? Got here too late for either activity, so I'm on the sidelines waiting on some indication of a bottom having been reached. So far, nada. Ooops! There is ONE indication.....all the bullishness on this thread has damn near evaporated, a common sign of a bottom approaching. One more thing, to the poster who stated, "there's been significant insider buying," my statement is, where's the corroborative evidence. I think at this point everyone will be better served if they steer away from all speculative commentary, and stick strictly to corroborable statements. Good luck to us all on finding bottom. John~

To: JB who wrote (12805)	12/2/1997 3:08:00 PM
From: Rick Smith	Read Replies (2) \| Respond to of 29386

JB: I don't generally comment on rumors, but since YOU brought it up: The brokerage firm in question, as I understand it was Myers Pollac out of Florida. They had decent sized positions in ANCR as well as some other small and micro cap stocks. Not only did they have to sell their inventory (and in some of their stocks it was quite large) but their clients also sold because they didn't want to be left with stock that a firm closed by the SEC had sold to them in the first place. My understanding is that option activity in the stocks, that they were market makers in, went up substantially in some cases. Presumably by clients looking to hedge their large positions as they sold. Glad you brought it up. If you have a different version, let me know what you have heard. Rick..