Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!! -- Ignore unavailable to you. Want to Upgrade?

To: lonny who wrote (3149)	3/12/1998 11:36:00 AM
From: DanZ	Read Replies (2) \| Respond to of 6565

Lonny, I think a stock's closing price is more important than the intraday low when deciding if it has broken support. Obviously this places you at risk if it breaks down hard in the middle of the day. You have to exercise some judgement when the stock is trading and I watch my positions very closely when they are trading near support levels. VLSI is testing our patience right now, but it still looks good to me. The technical indicators are getting more oversold each day and the stock has made little or no progress on the downside. There are a lot of block buyers in the 17 3/4 to 18 area. I have been watching the bid/ask size and tick volume and that's my observation. The daily stochastic is now at %K=6, %D = 11. That's an extremely oversold reading and the price is not confirming it. The RSI is down to 21, again very oversold. The ultimate oscillator has not made a new low and is not confirming the trade below 18. This is a bullish divergence. I'm so optimistic about VLSI that I bought 15 March 17.5 calls today at 11/16 and I'm still holding my entire 11,000 share long position that I bought at 19. IMO, this stock is a very good buy right now. Not hyping, just expressing my opinion. I'd also like to note that I'm not right 100% of the time and I may be wrong this time. Please don't trade on my comments. Use your own judgement about what you see and do what you feel is right. Dan