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

To: lazarre who wrote (1959)	10/19/1998 11:03:00 AM
From: Jon Cave	Respond to of 4710

I kind of think that VTSS should trade like dell. Dell is the leader in the PC world. VTSS should be the leader in the networking world. It deserves a higher PE. Looks to me like VTSS deserves a PE just has high as DELL. (I am dreaming)

To: lazarre who wrote (1959)	10/19/1998 3:25:00 PM
From: The ChrisMeister	Read Replies (1) \| Respond to of 4710

"Someone recently said on this board that there was alot of overhead resistance at 22. So much for charts and graphs...." That was yours truly. What were former bottoms -- actually I said 22-23 -- become overhead resistance. This is just standard TA, with a high degree of reliability. In this case we blew right through that level, though there was some congestion there for a day or two. Similarly, the 28-29 level was the low back at the end of Aug and the beg of Sept (remember when that looked like a bargain?) and we're now hung up in that area. I'll guess that the blow-up through the 22-23 level was caused by shorts covering, who were probably responsible for us going down to 17-20 in the first place. GreenSpam didn't hurt the cause either, since when his announcement caught us by surprise we were struggling hard to stay above 23, which looked high after the lower levels. Anyway, the concept isn't invalidated by one counter-example influenced by a news event since it has a logical basis. The idea is that those who bought at what used to be the low take the opportunity to (thankfully) get out more or less even when they first can after having been in the red. I think we've all done this at one time or another, or wished we had later. It's absolutely normal and to be expected. We're seeing that now on the Dow: remember early Aug, when we first came down to 8400-8600? That's what we're bumping up against now. ChrisMeister (Hooked on TA Works 4 Me)