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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Sharkey who wrote (17564)	8/3/1998 8:35:00 PM
From: Nine_USA	Respond to of 29386

Patrick, The volume may be 3x but the price is .33x, so the dollar-volume is more or less flat.

To: Patrick Sharkey who wrote (17564)	8/3/1998 8:47:00 PM
From: Mike Fredericks	Respond to of 29386

Can a technician explain how the high/low spread on 3x normal volume can be only 5/16? Not a technician, but depending on how you look at it, it's not 3x normal volume... Price * Volume has stayed the same. Price dropped to 1/3 roughly of previous level, volume increased. If I want to buy $500 worth of ANCR, I now buy thrice as many shares. So I don't know if I'd read anything into the price action. Just like I don't know how Bollinger Bands work on small caps like this. -Mike

To: Patrick Sharkey who wrote (17564)	8/3/1998 8:49:00 PM
From: Kaizer	Respond to of 29386

Patrick, The BB's are pretty wide right now after the drop and the price is on the bottom channel.Unfortunately for most of us the narrow channel pattern has a high probability of predicting movement only and not direction. There was no followup to the flurry of buys at the open and it didn't take much sell pressure to keep the price in check.Considering the market in general it isn't too surprising.It is difficult to say whether it is accumulation or short covering, but in terms of dollar volume it is only average volume at best. Regards, Kaizer