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

To: MoonBrother who wrote (1701)	9/24/1998 8:09:00 PM
From: MoonBrother	Respond to of 4710

Today, VTSS has put up the best performance I've ever seen even with the best quality companies. With NAZ down 2% and almost all the tech leaders down, VTSS has gone up almost another dollar. If the market did recover in late afternoon as I hoped (around 2:30pm), VTSS would have finished well over $28, perhaps even in $29 range. Unfortunately the market went down another 2/3 of the day's loss from that point on, which eventually pulled VTSS off from $28. Personally I think today's late round market sell-off was overdone. Tomorrow morning both DOW and NAZ will have a jump start, which will push VTSS to start at well over $28. In fact, in today's after-hour trading, VTSS has traded more than 100k shares to finish at $27-7/8, an obvious bullish sign for tomorrow's trading. As for how high VTSS could go tomorrow, my guess is that, if the market goes up handsomely (DOW 100 pts, NAZ 20 pts) then we will definitely break $30, perhaps even go as high as $32. Even if the market has another down day, VTSS will still rush toward $30. In any event, next week VTSS will definitely go back to its comfortable trading range of $32 ~ $36.

To: MoonBrother who wrote (1701)	9/25/1998 12:59:00 PM
From: The ChrisMeister	Respond to of 4710

"All in all, I'm surprised to see very little profit takings in such a down day." I decided to wait until this AM. On account of the sloppy opening in the general market (-110,+5,-50...), the fact I had about a 25% profit here in less than a week, and sensing extremely short-term momentum faltering on VTSS, I sold 1/1.25 = 80% of my position @28 -- essentially taking my original $$'s out and taking (leaving?) my profit in shares for the long term. 28 was pretty much my initial objective when I went long, and I'm happy it's happened much sooner than I anticipated. The other stocks in this group that I follow have also stalled. Again, I'm taking a very short-term perspective in an indecisive market such as this. Unless my cash gets put to work somewhere else in the meanwhile, I'll more than likely buy back in some should we revisit 26, certainly if we see 24 again. If not, well, I'm still long... ChrisMeister