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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 (3585)	6/12/1998 5:32:00 PM
From: DanZ	Read Replies (2) \| Respond to of 6565

Tom, I bought some more VLSI at 15 1/8 this afternoon as well. Even though it traded briefly below 15 the past two days, it hasn't closed below that and it looks like it's going to hold. VLSI has been under tremendous pressure from the SOX and NASDAQ, both of which have been hammered the past two days, and the stock has held it's ground. I'm not sure why it hasn't gone down with the tech wreck, but I think it says something about where this stock is heading in the short term - and I think that's up. The takeover rumors persist and the stock is trading at 1 x sales with excellent growth forecast in the cellular business. Either of these could be supporting the stock or obviously it could be something else. It could just be luck. gg By the way, "RAG" from the VLSI thread on Yahoo! posted a link to a daily chart that displays the money flow index. After the chart comes up, click on Money Flow Index under Indicator chart settings if the chart isn't already set up that way. askresearch.com There are two interesting points to be made about this chart. 1. There is a bullish divergence between the price and the money flow index. Money flow tends to lead the price and it turned up before the price did a few days ago. 2. The last two times the money flow index got below 20, the stock staged a big rally soon thereafter. The money flow index got below 20 the other day and has since rebounded. Hopefully the money flow index will lead the stock higher this time as well. It looks like the overall market reversed again today after trading near the bottom of its recent trading range. I think the major averages will trade higher next week and this should help VLSI if they do. A good weekend to all. Dan