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

To: Lhn5 who wrote (14798)	3/2/1998 1:47:00 AM
From: Alan Aronoff	Read Replies (2) \| Respond to of 29386

<<The excessive focus on holding 7 may tip off shorts and frighten longs.>> Larry, Technically speaking the exact opposite should occur. Some quotes from Dr. Alexander Elder: << Support and resistance exist because people have memories. Our memories prompt us to buy and sell at certain levels. Buying and selling by crowds of traders creates support and resistance. If traders remember that prices have recently stopped falling and turned up from a certain level, they are likely to buy when prices approach the level again. If traders remember that an uptrend has recently reversed after rising to a certain peak, they tend to sell and go short when prices approach that level again. Support and resistance exist because masses of traders feel pain and regret. Traders who hold losing positions feel intense pain. Losers are determined to get out as soon as the market gives them another chance. Traders who missed an opportunity feel regret and also wait for the market to give them a second chance. Feelings of pain and regret are mild in trading ranges where swings are small and losers do not get hurt too badly. Breakouts from trading ranges create intense pain and regret. ... In uptrends, bears who sold short feel pain and bulls feel regret that they did not buy more. Both feel determined to buy if the market gives them a second chance. The pain of bears and regret of bulls make them ready to buy creating support during reactions in an uptrend. >> ANCR closed above $7 on Feb 3, and has closed above $7 ever since. Traders who are both short and long know this. Seeing that the pullback so far has been on light volume, I am sensing that a trend reversal is not occurring. Consequently, I believe bulls will be buying while bears will be covering at this level. It is the bears who will be frightened about maintaining a short position. Now of course I could be wrong. ANCR could wind up closing below $7 and then reverse the next day and go to $20. The market is greater than any of us. ANCR's price from minute to minute, day to to day, is a consensus of all the buyers and sellers out there. And for that reason the market is always right. I use TA as a way to anticipate market moves. I also think of TA as much more of an art than a science. Charts can be interpreted in infinite ways. Someone could probably find an indicator that says that ANCR is a screaming buy at $6 3/4. I'd like to read a post from that person. I consider TA posts as simply $.02 in a market of millions. My personal belief is that ANCR should stay in a certain trading range while certain fundamentals are intact. If these fundamentals start to deteriorate then I believe TA will tip it off by showing a break below support. If the fundamentals start to improve I believe TA will tip it off by showing a break above resistance. I know there are many people out there who find this idea to be complete hogwash or who could care less or who think their TA is far better etc. These differing opinions is exactly what makes a market of buyers and sellers. In closing, I wish the people on this thread truly had "the power" because judging by the overall historical bullishness, we'd be talking about support at $70 instead of $7. <g>

To: Lhn5 who wrote (14798)	3/2/1998 1:58:00 AM
From: Eleder2020	Respond to of 29386

>>The excessive focus on holding 7 may tip off shorts and frighten longs. It is best not to post claims like that--may yield a self-fulfilling prophecy and needlessly increase volatitility.<<< Larry, I don't think anything I could post about some ANCR TA could effect the short term view of the longs who seem to me to be as tenacious and gritty as the Knicks over the Lakers without 4 players due to injury.If the management team as tenacious as the longs and the Knicks we will be OK.The ANCR traders know the score.They certainly don't care about my input to figure out what they are doing. Just for the record. I'm pretty much a neophyte on TA, but have been learning quickly from someone who is a very knowledgeable Technical analyst at an investment house, so anyone buying or selling this on my TA definitely has a screw loose. She initially helped me find some charts that worked well historically for Ancr and once in awhile get an e-mail when she sees something interesting in the charts.Haven't heard anything lately so have been flying solo. I'm a cost dollar averager and not a trader, so use TA to find the best possible entry point. 11 buys no sells over 2 years. Looking for buy number 12 and only buy below my average so I will tell you it is over 7 1/4.The best part of dollar cost averaging is you get alot more shares at 4 then at 10. Never thought I'd own this many shares but comfortable with the investment and really excited about the story and trying to continue my education thanks to George, Craig , KJ etal. on the technology which I haven't done to well lately(not much time to read the URL's due to work related projects). It seems like I've been up at one of our OEM candidates at least once a week lately. If you don't think NDA's exist and are stringent,everybody has got one right down the line.If ANCR should ever win a significant OEM I certainly won't be surprised to see numbers well ahead of an announcement.I think that is why I enjoyed Bradley's post on "Only the paranoid survive" by Andy Grove. Enough rambling for tonite, Ed

To: Lhn5 who wrote (14798)	3/2/1998 2:40:00 AM
From: MrBuzz	Read Replies (2) \| Respond to of 29386

Why I am sticking with Ancor: * Recent IBM buy-in as shareholder * IBM using fibre channel for their IBM Global Network backup storage * Strong SAN interest and publicity in recent weeks * Latest merger/acquisition in the sector (Adaptec/Symbios) * Additional cash added through latest round of financing * Improvement in company's latest EPS * Gradual decline of the effects in Asian markets * Tech sector given a boost in recent weeks establishing new highs * Upcoming Networld+Interop show to spark product and company interest Shareholders with interest in this company and see Gigabit Fibre Channel as an emerging, hot technology will no doubt in my mind support its cause. Freshly squeezed orange juice. Mmmmmm good.