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

To: Alan Aronoff who wrote (12970)	12/5/1997 10:43:00 PM
From: ed doell	Respond to of 29386

>>So, if history repeats itself, as it has been doing with the trendlines, there should be a breakout rally in about two weeks. Projecting the 50 DMA two weeks into the future puts it at around $6 1/2...a possible breakout point.<< All things being equal, I agree with your analysis. Plus the calendar is supportive of your analsysis as well. However, IMHO this: >>I have read that trendlines will often trace the same angle time and time again in a given market because the key players seldom change.<< is an important consideration, and I wouldn't know how to validate "the key players" point because of an additional variable: the rise of Brocade and other players since the prior bull trend line was made. Increased competition is a factor which might blemish an otherwise excellent analysis. IMO what has accounted for recent strength in ANCR is short covering...taking profits and moving into other things, perhaps even to reverse, and flip into ANCR long. I think I recall that craig c. and I disagree on this point. He thinks thinks that covering has taken place, and I think it is taking place. Time will tell, and have a nice weekend yourself! Ed