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

To: nic who wrote (22156)	5/27/1999 4:49:00 PM
From: richroni	Read Replies (4) \| Respond to of 29386

Ancor has a pretty new home page up: ancor.com

To: nic who wrote (22156)	5/27/1999 6:33:00 PM
From: donald sew	Respond to of 29386

Nic, Thanks for the nice comment. ANCR is healthy, but that does not mean it will not girate when the overall market is correcting. It was a good sign when yesterday ANCR dropped to 8 and rebounded immediately, which is another healthy sign. However, since the correction in the overall market is probably not yet over there is still the chance that ANCR will revisit the 8 range again. If it does hit 8, it should be taken as a buying opportunity. I rechecked ANCR and the main trendline is around 7.25, and a break of 7.25 to the downside would be a negative for ANCR. I am not saying that it will get that low, just mentioning it since it is a major/important support line. As I mentioned previously, ANCR has an indirect relation to the INTERNETs, and they are very weak right now. I am expecting that the INTERNETs will sell off some more, and I am suspecting that the DOW could get to the 10,000 range before rebounding. Such negativity should minimize the upward momentum for ANCR. If ANCR can stay above 7.25 during this correction, it is a healthy sign and would imply that ANCR will continue its uptrend above 12 after the correction is over. I realise that everyone, including myself, would love to see our stock move straight up, but that is not normal in the stock market. Parabolic moves to the upside, although many want it, is actually not healthy for a stock since many parabolic moves to the upside end up retracing all of the up move. It is healthier for a stock to move up and form a base, so it can move up further like a stairstep. Since MARCH, ANCR formed a base around the 4-5 range, and then in the 7-8 range. If ANCR can also form a base around 10, that would be very healthy. It appears that from each base ANCR is able to move up about 4-5 points (from 4.5 to 9, then from 7-8 to 12.5). So if ANCR can form a nice healthy base around 10, it is quite possible that the next surge to the upside could take ANCR to 15+. I am still expecting that this correction in the overall market will end near early JULY. Around mid JUNE there should be a strong upmove but selling again into early JULY. Then hopefully the upswing in ANCR starts again, if not sooner. seeya