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

To: Kelly Igou who wrote (14435)	2/18/1998 1:20:00 PM
From: Alan Aronoff	Read Replies (1) \| Respond to of 29386

<<All you TA types - without considering the CC - where could we expect support?>> Well you know I've been using the basic stuff but it's been working pretty well. I see $8 as first line of support. ANCR tested it this AM and bounced. Next is $7 1/2... 200 DMA and also the first stop on a Fibonnacci retracement (assuming I'm charting Fib correctly). Without some heavy negative fundamental news I think ANCR would make a strong stand at $7 1/2. After that would be $7... representing the second stop on Fib retracement... a 50% pullback from the $5 to $9 rally. After that I could see ANCR falling back to the 50 DMA...$5 1/2 Other opinions welcome...

To: Kelly Igou who wrote (14435)	2/18/1998 1:42:00 PM
From: THOMAS GOODRICH	Respond to of 29386

It's too early to tell if we're seeing a bullish trend reversal or just simply day-trader profit taking which is what today looks like. Where support levels are I'd wager is anyone's guess - somewhere between $4 and $20. Though still long term bullish on ANCR, I expect tomorrows CC will reveal flat earnings for QTR 4. Going forward Ancor looks good, however, it would certainly be favorable to hear more from Minnetonka regardless of NDA's. In other words, promotion could be enhanced IMO. Tom