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Technology Stocks : PMC-Sierra (PMCS) -- Ignore unavailable to you. Want to Upgrade?

To: DavidG who wrote (2005)	8/5/1998 12:52:00 PM
From: The ChrisMeister	Read Replies (1) \| Respond to of 3818

"I am just not comfortable with the technicals right now and I want to wait for a few days of low price movement on low volume to define the next bottom before I add. Of course, I may miss out on this opportunity by doing so. Comments?" Sure. I have no position in this company but have been watching it (and lurking here) the last several weeks. I am long CSCO and MMCN (ouch!). Without doing the complete workup, I'm also thinking it's too soon to buy PMCS. This doesn't mean the price isn't very attractive, or that there might not be a short term bounce for any nibble traders who might want to try to pick up a couple of points. But a good low which can set the stage for a prolonged up move (say back up toward the old highs eventually) looks different than this. I look for a divergence between price and relative strength -- lower price, higher relative strength. This would typically occur after a rally attempt. But the downside from here (32 1/4) is still pretty minimal IMO. ChrisMeister