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

To: Patrick Sharkey who wrote (22110)	5/26/1999 10:15:00 AM
From: Nine_USA	Read Replies (2) \| Respond to of 29386

< Why else would anyone sell now, except if they were short?> Margin calls

To: Patrick Sharkey who wrote (22110)	5/26/1999 10:28:00 AM
From: doc	Respond to of 29386

don't start the short conspiracy theories again. only the dumb shorts would be shorting today. i believe this is nothing more than panic selling by the small investor. LOTS of trades today between 100-500 shares. a technical correction. buyers will step in when technical support has been reached. i wouldn't know a selling opportunity if i tripped over it but i'm getting very good at timing buying opportunities. i think you'll see one today or tomorrow unless ancr gets caught up in the broader market correction that's taking place. if you're not going to trade this stock, knowing the resistance and support levels sure helps one to know the upside as well as the downside and reduces the shock value of these wild swings.

To: Patrick Sharkey who wrote (22110)	5/26/1999 11:25:00 AM
From: donald sew	Read Replies (2) \| Respond to of 29386

Patrick, >>>> Why else would anyone sell now, except if they were short? <<<< Its a technical response, since the INTERNETS are selling off so much earlier this morning. Although ANCR is not an INTERNET it is in a related field. This pullback was also expected since it is common for a FIBINOCCI retracement of 38%-62% of the most recent uptrend. This uptrend started at 4.5 and ran to about 12.5, so that was a 8 point run. So the pullback could be from 3-5 points. Since we got as low as 8 intraday I feel the downside is now limited. The first main support line was at 9 then another at 8.25 and another at 7. As long as 7 holds, we are still in an uptrend and this is only a correction. I had previously posted the possibility of a retracement, but did not take my own advice since I was also playing the possible momentum of the BROCADE, so Im still long. seeya