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

To: lazarre who wrote (1886)	10/15/1998 1:19:00 AM
From: The ChrisMeister	Respond to of 4710

"Didn't you just sell VTSS at 20 or 21, too?" Msg #1851 (https://www.siliconinvestor.com/readmsg.aspx?msgid=5993199): Only 20-25% of my position, @20 5/8; back on the 6th. I'll keep my profits in shares, but the rest I was holding for this anticipated earnings run-up. "Seems your calls on the V haven't been terribly timely;" Actually, for me it has been. Those shares I sold a little more than a week ago went nowhere until today, while what I bought with the money is up about 4 pts -- and it was a cheaper stock so I was able to get almost twice as many shares. I'm definitely better off for having made the switch. "..so you think it'll stop at $24-25---is this for the near, mid or long term, in your opinion." Near term. In this market even excellent reports have been rewarded with immediate sell-offs (with one or two exceptions I'm aware of). So I'll look to buy-back lower. I still don't think we've seen the low. Too many fast-growing companies selling at P/E's nearer to 20. Either they catch up while we stay level, or we drop to join them. What happened today is just normal run-up before the earnings announcement IMO. I suppose there were some buy stops in the 21 1/2 - 22 area which got tripped, the rest being piling on, etc. We may go a little higher than today's highs on Thursday, but I wouldn't expect another 3 or 4 pt day. I've been known to be wrong before. ChrisMeister