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Technology Stocks : Vitesse Semiconductor -- Ignore unavailable to you. Want to Upgrade?

To: Jazz102 who wrote (1569)	9/14/1998 12:57:00 PM
From: John F.	Read Replies (1) \| Respond to of 4710

1. As the saying goes: "Buy on Rumor, Sell on News." 2. And, since VTSS did not move up on the news, traders may have wondered what it would take to move the stock higher...apparently some did not wait around to find out.

To: Jazz102 who wrote (1569)	9/15/1998 5:53:00 PM
From: The ChrisMeister	Read Replies (1) \| Respond to of 4710

"So why is it sinking with NASDAQ up..." As I posted two weeks ago (https://www.siliconinvestor.com/readmsg.aspx?msgid=5644773), these things take time to bottom. We did not reach oversold levels a couple of weeks ago on my 14-day relative strength (momentum) indicator, and we're not oversold now. It may seem that way subjectively, but the actual numbers say otherwise. We got near to being oversold two weeks ago, then returned to neutral (this is typical market action), and have now come down half way to being oversold (which is at $20.60 today). A close of $23 1/2 would take us to about the same RSI reading as on 8/31, which would not be atypical bottoming behavior in a market such as this. Maybe not $23 1/2, but a close near $24 seems probable to me. Only time will tell whether today's $25+ intraday low will hold, but I suspect not. A stock making lower lows is still going down, and everyone's buying power has been zapped the last 6-8 weeks. The TLAB/CIEN affair is just a precipitating event in this view. ChrisMeister (who admits to not doing so well holding onto MMCN...)