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

To: Alan Aronoff who wrote (14799)	3/2/1998 2:08:00 AM
From: Eleder2020	Respond to of 29386

>>> 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..<< Really well said.I might fit in this category but becoming a convert. >>>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><<< You must have had a typo- I think you meant $700. Ed

To: Alan Aronoff who wrote (14799)	3/2/1998 8:47:00 AM
From: KJ. Moy	Read Replies (1) \| Respond to of 29386

Alan, <<<I also think of TA as much more of an art than a science. Charts can be interpreted in infinite ways.>>> I couldn't agree more. To me, the most important point is would a break out on the upside or down side occur when these 'support' 'resistance' points are reached or it simply bounces off these points? This is the toughest question to find an answer. Or, you can say, I'll wait for the breakout. It's easy said than done. Just a while ago, when Ancor appeared to have broken out on the upside at $8, it touched $9 briefly and subsequently retreated to current level. You might have anticipated that $9 was not sustainable. I would submit to you that was more of a gut feel at that time than 'TA'. If the company announced some OEM then, we would have been off to double digits. <<< Someone could probably find an indicator that says that ANCR is a screaming buy at $6 3/4>>> My 'voodoo' TA analysis said Ancor will see above 8 this week.<g> Don't hold me to it. I'm doing it for fun. KJ