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

To: OldAIMGuy who wrote (3444)	5/21/1998 5:06:00 PM
From: DanZ	Read Replies (2) \| Respond to of 6565

Hi Tom, I also averaged down today at 16 13/16 and 16 15/16. The stock has support on the weekly chart at 16 1/4 (lower weekly bollinger band) and it held up well today given the continued collapse in INTC. It looked like panic selling between 16 3/4 and 17 and that gave me more confidence to average down. I have my position back up to the same number of shares that I had last month before I sold it between 20 3/4 and 20 15/16. The daily chart is hosed right now but hopefully the weekly chart will offer some stability. If everything was rosy, the stock wouldn't be down. It's a fallacy to assume that just because a stock is down that it will continue to go down. At some point it becomes undervalued and rebounds. Not sure if we are there but the weekly chart looks good and I'm confident that anybody who bought the stock today will make money. Good luck to everybody, Dan