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Technology Stocks : LSI Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Duane L. Olson who wrote (12512)	5/19/1998 1:51:00 AM
From: DavidG	Read Replies (1) \| Respond to of 25814

Duane, Don't know what to tell you that might be good news. It looks like near term we haven't seen a basing pattern yet. 5 minute chart for day trading shows an overbought indicator with momentum, although positive beginning to turn down. On the 15 minute chart stochastics shows LSI neutral. Looking at the 12 month chart I think we have a split decision. LSI holding above 23 keeps LSI right on the uptrend line from Dec to today...but...the 50dma was recently intersected by the 10dma which indicates a further move down. So LSI is at a critical crossroad. What does all this mean? My guess is if we close below 23 again then there is a good chance we will test 21 and if the SOXX breaks 285 then it can also pull LSI down below 20 once again. Seasonal correction for next 2 months is what we are looking at. Of course MSFT and INTC are also critical. MSFT below 76 and INTC below 70 might put us in a serious correction. I am just trading the semis right now and see no hurry to be carrying full positions. Right now I am in about 1/4 of a position with LSI. DavidG