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

To: Kerry Lee who wrote (21923)	5/20/1999 9:49:00 PM
From: Eleder2020	Read Replies (1) \| Respond to of 29386

>>>However, the same person also stated that technically , a temporary dip would be healthy for the stock, clear out the weak hands <<< The person you talked to may not have been aware of the strength of long term battle hardened Ancor shareholders. I imagine the weak hands bought today and yesterday. Just IMHO. Volume was awesome today with so many huge blocks being bought.Maybe we're just finally along for the ride. My best, Ed

To: Kerry Lee who wrote (21923)	5/21/1999 10:26:00 AM
From: donald sew	Read Replies (1) \| Respond to of 29386

Kerry, Im mainly a technical analyst. ANCR was one of the stocks I have been in and out of since 1996. It appears that around 11 should be a short-term top. It is common for a FIBINOCCI retracement of 38%-62% of the recent runup. This recent runup started at around 5 so this runup so far is about 6 points, so a pull back of 3 points to around 8 is reasonable. There is also a support line around 9. These are all approximations and should not be used as concrete measures. Take a look at the runup from 1 to nine(8 points) then a pullback to 4 1/2. That fits within the FIBINOCCI retracement range. Breaking the resistance line at 9 to the upside was a major confirmation of the uptrend for ANCR and very healthy for the stock. One should also keep in mind that on a seasonal basis we are coming to a weak period since June is statistically weak month and we could be at the top of the 9 month cycle. I am expecting a pullback to start near Memorial Day for the overall market so such will add negativity to individual stocks. If anyone is interested in TA, we have a website at homestead.com Seeya