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To: patrick tang who wrote (13553)7/15/1998 4:22:00 PM
From: Hightechhooper  Read Replies (1) | Respond to of 25814
 
Patrick,

I am with you, that was a pathetic display! 3.3M shares, much of which was around 24.5, and it makes almost no progress. Even TXN broke major resistance at 60 with this move in the sox and is now only a little more than 10% below its all time high. Why didn't I pick that stock instead? Historically, it has been difficult for lsi to make any headway on options expirations week if there is alot of open interest at a particular strike. 25 is the majic number this month, but with all the momentum in the sector it should have easily eclipsed that level at least on an intra-day basis. After all the time spent basing in this range it would seem like we would run out of sellers, but even though demand was strong there was plenty of stock for sale from 24-24 1/2.

We keep burning up all the demand for the stock going from 23 to 24+ and by the time it gets a litle higher, there is nothing left to put it over the top. I hope this is just a continued reflection of management not being trusted and not a weakening of the real business that has leaked out. A management group that is not trusted AND a deteriorating business environment would be a double whammy from which we could not escape for a long time.

If 3.3 million shares can't move this beast, I am now beginning to wonder if a pre-earnings rally is even likely. What do you think?