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

To: Joseph E. Caiazzo who wrote (3918)	7/27/1998 1:41:00 PM
From: DanZ	Read Replies (1) \| Respond to of 6565

JEC, I heard some negative comments about ERICY on CNBC before I left for work this morning. The stock was down 10% in London primarily because of statements that the company made about sales stagnating. Here is a quote from some news that I found... "While Ericsson's mobile phone sales rose a mere one percent in the quarter, the world's No. 2 Nokia Oyj on Friday reported a 50 percent gain in phone sales after it unveiled a slew of sleek, small phones." VLSI is down today, some is due to the overall market and some is due to ERICY. However, this dip took the stock down to an important support level and it is holding so far. There's more risk to 15 and I say big deal. You can't make money unless you are in a stock and the risk to reward is very good right now. I covered my short calls this morning (Jan 2001 25's)...bought them back at 3 5/8. Best of luck...VLSI is coming back some now currently quoted at 15 15/16 x 16. I think that this is an excellent time to add to or establish an initial position in VLSI.