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Technology Stocks : LSI Corporation -- Ignore unavailable to you. Want to Upgrade?

To: BWAC who wrote (14354)	8/19/1998 11:48:00 AM
From: Robert New	Respond to of 25814

Well it seems as though Montgomery Securities had LSI pegged all along if you look at their insight and recommendations over the past couple of years. Their downgrade of LSI just before the last earnings report to a hold (aka SELL ASAP) should have been a warning signal to all. However more importantly IMO the action provided by the tape over the past weeks served as a major indicator that something was seriously wrong at LSI. Ive seen this pattern unfold many times and as happened yesterday many of the large institutional clients-note the large volume- it would seem were given advance notice. I agree that this seems unfair however it does take place all the time. As a result of the tape and support levels being violated I bailed out with a significant loss at 18 3/4. Going forward it is my opinion that the street will not give LSI any respect whatsoever until it produces good earnings. Having followed this company for 2 years or so...Wilf always paints a positive outlook going forward...which I think now will be simply taken with a grain of salt...Looks like the shorts are now the ones laughing last. At this point...tax loss selling will start to kick in soon so selling pressure should continue. Lets face....everyone is holding at a loss at these levels... To sum up I would not be surprised to see LSI dip to the 12-13 area by the fall. At that point I might reconsider reentering depending on the fundamental outlook...Good luck to the suffering L O N G shareholders...I share in your pain. Rob