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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!! -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (4682)	10/19/1998 2:37:00 PM
From: Kelvin D. Nakamichi	Read Replies (1) \| Respond to of 6565

Over $8, over 1M volume at 2:30. This is good.

To: orkrious who wrote (4682)	10/19/1998 4:50:00 PM
From: DanZ	Read Replies (1) \| Respond to of 6565

Jay, I had been accumulating VLSI the past two weeks and held over a block at an average cost of 7 1/2 at the open today. The chart shows resistance between 8 1/2 and 8 3/4 so I sold my entire position in three parts at 8 1/16 and 8 1/8 when the SOX started faltering this afternoon. While VLSI and the SOX did recover, I still feel as if it's prudent to take profits near resistance. I normally hold half of my position instead of selling everything like today, but I think the stock went up too fast and the market wasn't all that strong today. By selling, I am betting that I will get an opportunity to buy it back between 7 1/2 and 7 3/4. I still think that VLSI offers outstanding value but I have to trade according to my rules which is buy near support and sell near resistance. If the stock breaks out above 8 3/4 and leaves me behind, I'll be very happy for all who are still holding. If it doesn't break out and backs off to my target, I'll be in there buying back my position. Dan