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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Sharkey who wrote (20314)	1/20/1999 3:23:00 PM
From: Kelly Igou	Read Replies (1) \| Respond to of 29386

I think the chart has started scaring some people. We need a healthy consolidation and re-basing. Does the term "overbought" come to mind? It seems like we're climbing Everest...time to build base camp #1 and rest for awhile before the next push to camp #2. The MMs may have accumulated a lot of shares in the 1s (making a market when no one else was buying), and may now need to lighten up. We may stay at this level for a couple of days while they unload. I think they'll keep suppressing the best ask until they've sold off as much as they want in order to have the inventory of shares they want. This may take a few days, they have to wait for buyers, so my guess is that the stock takes a break through the end of the week and floats between 7 1/2 and 8 1/2, and takes off again as soon as MMs raise their ask to higher levels (Monday?) We could have some purely technical shorting going on, creating selling pressure. That would be expected, in that the stock has run so far so fast, but in my mind that kind of decision is almost suicidal at this point with this stock. Just MHO. Get your own crystal ball, make your own guesses, but it's fun guessing! (for a change, it's fun...) :))