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

To: Kevin Hay who wrote (3410)	5/17/1998 4:06:00 PM
From: DanZ	Respond to of 6565

Kevin, Thanks for your post as it could explain the drop last Thursday. On the flipside, both the First Call and I/B/E/S mean estimates for the June quarter have been at 9 cents for the past two weeks (down from 17 cents a month ago). It is likely that Gruntal is just playing catch up with other analysts. While I think VLSI could test the 17 to 17 1/2 area, I would buy the stock on dips because I think it is likely that it will trade in a range of 17 to 24 for a while and 18 to 22 is even more likely. I think it is bullish when a stock holds support in the face of earnings downgrades because it generally means that the news has already been discounted. Dan