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Technology Stocks : LSI Corporation -- Ignore unavailable to you. Want to Upgrade?


To: country boy who wrote (17229)2/28/1999 8:55:00 PM
From: Ken Twining  Read Replies (1) | Respond to of 25814
 
Country:
It wouldn't bother me a bit for a test or 23-24, as at that price, I'd have to buy more! It looks like to me that this Tech. downturn may be being caused by people and businesses waiting for the Pentium III, which is now just out, causing the lower revisions in CPQ from slower sales in Jan. and early Feb! It's a Tech.Foodchain concern I guess! That and the MU dilemma certainly shot down the Techs. Fri!....Have to see the reaction tomorrow and Tues!



To: country boy who wrote (17229)3/2/1999 10:10:00 AM
From: FNS  Read Replies (1) | Respond to of 25814
 
country boy: Patience friend...charting is not a scientific method:

Re: >>I still see 28 as having stronger support and 30 as the breakout, not 29 (how do you see differently?)<<

Using Point & Figure charting:

LSI broke a double top at $29.00. Has held up very well with regards to negative impact from INTC, and tech market sell off due to DELL and CPQ...quite possible that 23 double bottom could be tested... A move to 30 would take LSI to new yearly highs.

(HOWEVER: 22 breaks a double bottom and would be a stop loss point.)

Yes, you could have shorted the stock and done well...you could have shorted and then no get back into in time, also!!!

If you're not a day trader, then no sense to scalp for a point or less...if you're a day trader, then good luck!

Quite frankly, I envisioned LSI tanking to 23-24 on INTC news...but now think INTC is getting to be a BUY>>> should INTC drop to 106-112, then it may rally hard and push LSI, also... but only my opinion.

Am long LSI at this time.

good luck,

FNS